Rotary Engineering's FY15 profit down 15%

ROTARY Engineering on Thursday reported a 15 per cent fall in net profit to S$42.78 million for the financial year ended Dec 31, 2015, compared with S$50.1 million a year ago.

Revenue more than halved to S$329.3 million in FY15 from S$687.7 million in FY14, as the group "reaches completion on some of its major projects".

Earnings per share in FY15 slipped from 8.8 Singapore cents a year ago to 7.5 Singapore cents.

The company has proposed a final dividend of 1.5 Singapore cents per share, down from 2.5 Singapore cents a year ago.

"In view of the weak business landscape, the group is witnessing fewer EPC (engineering, procurement and construction) projects in the marketplace (and) is focusing on smaller single discipline projects."