Hiap Seng's Q2 profit up more than 6 times to S$8m
By Mok Fei Fei, 938LIVE | Posted: 11 November 2009 1637 hrs

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SINGAPORE: Mainboard-listed specialist integrated engineering group, Hiap Seng, said its second quarter profit surged by more than six times compared to the same period last year.

Profit for the period ended in September jumped to S$8.04 million from S$1.23 million.

For its fiscal first half of the year, Hiap Seng posted a net profit of S$15.5 million.

That surpassed its previous record high of S$15.4 million achieved for the full 2007 financial year.

The firm said the profit was achieved on the back of a 24.4 per cent on-year growth in revenue to S$126.6 million.

It added that the outlook for the oil-and-gas, petrochemical and pharmaceutical industries that it serves remains positive. - 938LIVE/vm