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Rotary Engineering 3Q continues its earnings momentum

Vincent Chia
Rotary Engineering 3Q continues its earnings momentum

Rotary Engineering Limited announced its 3Q results. 9M revenue was up 36% year-on-year to $562.0 million while 9M PATMI was up 246% to $38.3 million. 3Q revenue was down 7% year-on-year to $172.0 million while 3Q PATMI was up 37% to $10.9 million. The results were attributed to a gross margin of 17% for 9M 2014 compared to 12% for the corresponding period last year. This achieved by innovation in construction, efficiencies in the materials supply chain, improved project management, upgrading of workforce sills and use of IT for project analysis and control. Going forward, Rotary Engineering is well positioned to reap trends towards cleaner fuel. It recently secured a contract for 2 LNG storage tanks in Rayong, Thailand.

GET TO THE POINT : Looks like Rotary Engineering has firmly turned the corner. Now for some revenue momentum.

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