SILK posts earnings turnaround (BT)

SILK Holdings Bhd posted a net profit of RM1.7 million for the second quarter ended January 31 2012, against a net loss of RM4.3 million in the same quarter of last year.

This was partly driven by stronger performance for its highway and oil and gas support services businesses, the company said.

The second quarter also saw revenue increase by 61.8 per cent to RM60.6 million, and earnings before interest, taxation, depreciation and amortisation (Ebitda) jump 71.2 per cent to RM30.7 million.

For the first half, the company reported a narrower net loss of RM450,000, against RM4.3 million net loss in the same period last year.

The firm's oil and gas support services division also saw significant improvement. For the quarter, the division's revenue increase by 82 per cent to RM 80.2 million from RM 43.9 million a year ago.

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