Written by The Edge
Hiap Seng Engineering, the specialist integrated engineering group for the global oil-and-gas, petrochemical and pharmaceutical industries, today reported a revenue increase of 19.8% to $67.9 million for the first quarter ended June 30, 2010 (1QFY2011) from $56.6 million in 1QFY2010.
Group net profit attributable to shareholders for 1QFY2011 increased by 7.4% from $7.5 million to $8.0 million as compared to 1QFY2010 mainly due to the group’s improved revenue and gross profit. The increase was reduced by the share of loss of associated companies of $0.1 million as compared to the share of profit of $0.8 million for the previous corresponding period.
As at August 6, 2010, the group’s outstanding order book stands at $166.0 million.
Dividend : None
