Rotary's Q4 earnings soar on better margin, lower taxation
It warns that protracted weaknesses in oil prices may affect its business
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Singapore
DESPITE a weak crude oil environment and lower turnover, oil and gas infrastructure services firm, Rotary Engineering, more than doubled its Q4 FY14 net profit to S$11.79 million.
The group's profits had gained from an 8 percentage point improvement in gross profit margin, as a result of smooth project execution and productivity improvements. Share of results from associates had also increased on the disposal of a loss-making associate which runs its waste-to-energy plant, Rotary said in a statement.
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