Rotary Engineering, a mainboard-listed oil and gas
infrastructure services company, on Thursday posted a net profit
attributable to owners of S$5.17 million for the fourth quarter ended
Dec 31, 2013 (Q4 2013), reversing a net loss of S$18.4 million a year
ago.
Revenue more than doubled from S$84.3 million a year ago to S$181.5 million in Q4 2013, due to "the execution of major projects secured at the beginning of this year", Rotary said.
For the full-year, net profit surged to S$20.7 million, compared to the previous year's net loss of S$80.4 million, while revenue grew 34 per cent to S$595 million, also from the execution of major contracts secured at the beginning of the year.
Singapore contributed 56 per cent of the group's full-year revenue, while overseas operations, which comprise projects in Middle East and Asean, accounted for the rest.
Revenue more than doubled from S$84.3 million a year ago to S$181.5 million in Q4 2013, due to "the execution of major projects secured at the beginning of this year", Rotary said.
For the full-year, net profit surged to S$20.7 million, compared to the previous year's net loss of S$80.4 million, while revenue grew 34 per cent to S$595 million, also from the execution of major contracts secured at the beginning of the year.
Singapore contributed 56 per cent of the group's full-year revenue, while overseas operations, which comprise projects in Middle East and Asean, accounted for the rest.
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