EGP Energy H1 net profit rises 179.7% to S$6.1 million on strong revenue growth
The group made its listing debut on the SGX mainboard on Jul 29 this year
EGP Energy, an electrical infrastructure solutions provider, reported a remarkable surge in its first half net profit, growing by an astounding 179.7 percent to S$6.1 million. This substantial increase was driven by a robust 157.4 percent rise in revenue, reaching S$30.7 million for the period ending June 30. The company's listing on the Singapore Exchange on July 29 marked the beginning of its public journey.
The earnings per share based on the group's share capital following its initial public offering stood at S$0.0269, a significant improvement from S$0.0096 in the previous year. The remarkable growth was primarily attributed to new transmission and distribution projects that commenced during the period, along with new projects and ad-hoc service contributions under its maintenance and services segment.
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