Yongnam swings back to profit for FY15

Steel contractor Yongnam Holdings' net profit hit S$6.43 million for the year ended Dec 31, 2015 - a reversal from FY14's net loss of S$8.49 million. Revenue jumped 32.3 per cent to S$280.62 million, due to higher revenue contribution from structural steelwork projects.

Earnings per share stood at 2.03 Singapore cents, versus a loss per share of 2.68 Singapore cents in FY14. No dividend was recommended.

Yongnam said on Friday that it is actively pursuing infrastructural developments and commercial projects in Singapore and the region. The counter closed trading flat at 35 Singapore cents per share.