Rotary Engineering Q1 net profit jumps as revenue doubles
Published on May 7, 2014 9:39 AM
SINGAPORE - Oil and gas infrastructure services company Rotary Engineering has posted an almost fivefold jump in net profit for the first quarter from a year ago to $14.4 million.
This came on the back of a near-doubling in revenue to $199 million, it said on Wednesday.
The group experienced a "busy quarter" as the execution of its projects picked up pace and momentum, especially in Singapore and the Middle East.
In Singapore, Rotary is working on the $300 million expansion of an oil terminal at Pulau Busing and a project to build infrastructure for a shared lubricant storage facility in Tuas South.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!