EGP Energy H1 net profit rises 179.7% to S$6.1 million on strong revenue growth
The group made its listing debut on the SGX mainboard on Jul 29 this year
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[SINGAPORE] EGP Energy posted a 179.7 per cent rise in net profit to S$6.1 million for the first half of the year ended Jun 30, from S$2.2 million for the previous corresponding period.
This was driven by revenue growth across both its key operating segments, the mainboard-listed electrical infrastructure solutions provider said in a regulatory filing on Thursday (Aug 13).
Revenue for H1 surged 157.4 per cent to S$30.7 million, from S$11.9 million a year earlier.
This was due to higher revenue recognised from new transmission and distribution projects that commenced during the period, as well as new projects and ad-hoc service contributions under its maintenance and services segment.
EGP Energy made its listing debut on the Singapore Exchange on Jul 29.
Earnings per share based on the group’s share capital after its initial public offering stood at S$0.0269 for the half-year, up from S$0.0096 in the previous year.
No interim dividend was declared.
Shares of EGP Energy fell 1.3 per cent or S$0.01 to close at S$0.76 on Friday, after the results were announced.
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