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SINGAPORE: Mainboard-listed Fabchem China said its second quarter net profit surged more than 10-fold to about 10.8 million yuan or around S$2.2 million from a year ago.
Revenue for the three months ended September more than tripled to around S$17.3 million.
Fabchem said the improvement in sales was mainly due to increased marketing efforts and revenue contribution from a newly acquired ammonium nitrate business.
It said there was strong demand within the domestic market as infrastructure and mining activities gained pace.
Fabchem said that gradual demand recovery is underway in its operating markets.
Going forward, it said its strong balance sheet, high operating efficiencies, calibrated expansion plans will continue to underscore its key competitive strengths. - 938LIVE/vm
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