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Rotary Engineering 2Q earnings down 43% at $1.2 mil despite higher revenue

Michelle Zhu
Michelle Zhu8/8/2017 06:04 PM GMT+08  • 2 min read
Rotary Engineering 2Q earnings down 43% at $1.2 mil despite higher revenue
SINGAPORE (Aug 8): Rotary Engineering reported 2Q17 earnings of $1.2 million, or a 43% decline from the $2 million reported in 2Q16 when profits were higher as the group reached completion on major projects.
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SINGAPORE (Aug 8): Rotary Engineering reported 2Q17 earnings of $1.2 million, or a 43% decline from the $2 million reported in 2Q16 when profits were higher as the group reached completion on major projects.

Revenue for the quarter grew 21% on-year to $62.8 million from $51.8 million previously, due to contributions from newly-secured projects which were executed in the quarter.

Other income however declined 40% to $0.5 million from $0.8 million in 2Q16 due to lower sale of scrap, which was offset by government grants.

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