PEC (IX2.SG) +2.8% at $0.915 on above-average volume, extending yesterday’s 4.7% gain, as plant builder’s improved June-quarter results continue to drive interest, paving way for shares to retest in near term all-time high of $0.955 set last September, says Dow Jones.

Fiscal 4Q10 earnings more than doubled to $9.6 million from $4.3 million year earlier on higher margins, bringing FY10 net profit to $44.8 million from $21.0 million in FY09.

“We believe PEC would continue to benefit from an expected increase in orderflow for work on Jurong Island and overseas projects due to its established position as an EPC (engineering, procurement, construction) contractor in Singapore and its successful penetration into the Middle Eastern and European markets,” says DBS Vickers, which has Buy call with $1.31 target. PEC’s current orderbook at $260 million.