EGP Energy unit secures transmission and distribution project valued at S$6.2 million
EGP Smart Energy’s contract brings the group’s order book to about S$305.1 million
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[SINGAPORE] A wholly owned subsidiary of electrical infrastructure solutions and service provider EGP Energy on Tuesday secured a project with an aggregate value of about S$6.2 million.
Subsidiary EGP Smart Energy bagged the contract, which concerns a “key infrastructure customer” of the group, bringing EGP Energy’s order book to about S$305.1 million as at Tuesday (Sep 1).
This is the group’s third contract announcement since its trading debut on the mainboard of the Singapore Exchange (SGX) on Jul 29.
On its SGX mainboard debut, the company’s shares closed 21.6 per cent higher than the initial public offering (IPO) price of S$0.51 per share.
Earnings per share based on the group’s share capital after the IPO stood at S$0.0269 for the half-year, up from S$0.0096 in year prior.
The group posted a 179.7 per cent surge 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, on the back of revenue growth in its key operating segments.
Shares of EGP Energy ended 2.2 per cent or S$0.015 higher at S$0.71 prior to the news.
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