CosmoSteel Q4 net surges 74.1% to S$2m on energy projects

Revenue up 23.4% at S$41.5m; group expects market conditions to stay challenging


INCREMENTAL revenue from energy- related projects drove CosmoSteel Holdings' fourth-quarter net profit up 74.1 per cent to S$2 million for the three months ended Sept 30, 2014 from S$1.2 million in the same period last year.

Revenue jumped 23.4 per cent to S$41.5 million from S$33.6 million in 2013.

Largely underpinned by a project secured in Vietnam, sales from energy projects surged 38.8 per cent from S$25.3 million to S$35.1 million. But the increase was partially offset by lower turnover...

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