Earnings at Engro Corporation get lift from rising demand for concrete

Concrete supplier Engro Corp's second quarter net profit rose by 13.7 per cent to $5.5 million.

Revenue jumped by 26.1 per cent to $41 million for the three months ended June 30.

This is primarily attributable to increased sales from the integral cement/ready-mix Concrete business in Singapore.

The increased sales also lifted overall profit. Higher operating costs were in line with the increased level of activities of the quarter.

Earnings per share increased to 4.68 cents from 4.11 cents previously while net asset value per share firmed to $1.78 compared to $1.58 as at Dec 31.