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NSL doubles net profit to $148.6 million, proposes 40 cents a share special dividend

Published on Feb 25, 2014 10:35 PM

NSL, formerly known as NatSteel, reported stellar full-year earnings of $148.6 million, mainly from recognising the gains of selling its petrochemical associate in Thailand last December.

The divestment of Bangkok Synthetics Co. yielded a net gain of $121.7 million and was classified under exceptional items.

Net profit for the year had soared by 218 per cent from $46.8 million, on the back of a 21 per cent rise in revenue to $507.7 million.

NSL said on Tuesday that its topline was supported by better takings across all its divisions, except the chemicals segment that registered a marginal decline in revenue.

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