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Chip Eng Seng reports improved earnings of $38.5 million for 1HFY2022

The Edge Singapore
The Edge Singapore8/5/2022 08:59 PM GMT+08  • 1 min read
Chip Eng Seng reports improved earnings of $38.5 million for 1HFY2022
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Chip Eng Seng Corp has reported earnings of $38.5 million for 1HFY2022, a surge from $99,000 recorded in the year earlier period. Revenue in the same period was $626.3 million, up 2.2%.

The company enjoyed earnings contribution from associates, reversing from a loss. Higher interest income and forex gains added to the bottomline as well.

The company’s construction segment showed significant improvement, with revenue up 75.1% y-o-y to $288.4 million. Hospitality, similarly, was up 51.1% y-o-y to $28.4 million.

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