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Hot stock: Dyna-Mac up as much as 11.5% after H1 profit surge

The higher bottom line comes amid the completion of major projects, improved productivity and increase in volume of projects undertaken

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Chong Xin Wei

Chong Xin Wei

Published Wed, Aug 7, 2024 · 02:48 PM
    • Dyna-Mac's net profit more than doubled to S$38.8 million for the first half ended June.
    • Dyna-Mac's net profit more than doubled to S$38.8 million for the first half ended June. PHOTO: BT FILE

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    SHARES of offshore oil and gas contractor Dyna-Mac gained some ground on Wednesday (Aug 7) after the company reported a 280.3 per cent rise in first-half net profit.

    The counter gained 11.5 per cent or S$0.06 to S$0.58 when the market reopened after the midday trading break.

    As at 2.19 pm, shares of Dyna-Mac were trading up 8.7 per cent or S$0.045 at S$0.565, with 30.1 million shares having changed hands.

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