Rotary Q3 net profit falls by 81 per cent

MAINBOARD-LISTED Rotary Engineering posted an 81 per cent decline in its net profit to S$1.23 million for the third quarter of 2016.

Earnings per share was 0.2 Singapore cent compared to 1.1 Singapore cents.

Revenue decreased by 13 per cent to S$52.65 million from S$60.33 million last year.

Rotary said that it has won contracts worth S$64 million in Q3 despite challenging conditions in the oil and gas market. Its order book excluding maintenance stood at S$153.9 million.