By ANGELA TAN
Technics Oil and Gas Limited, a provider of compression systems for the oil and gas sector, reported a net profit of S$7.04 million for the fiscal third quarter ended June 30, 2010, compared to a net profit of S$2.56 million a year ago.
Revenue, however, fell 32 per cent to S$27.24 million.
Its improved performance was boosted by 'a number of fast-tracked fixed-platform EPCC projects which resulted in cost savings in the engineering works and better bargaining power on quantity discounts.
Tthe group is expecting a better performance for FY2010 compared to FY2009.
A dividend of 10.5 cents per share has been declared.
