Engro swings back to profitability in 2Q

SINGAPORE (Aug 8): Engro Corporation has reported earnings of $4.5 million for 2Q16, compared with the net loss of $2.6 million in 2Q15.

For the quarter to June, revenue decreased 7% to $39.2 million, on the back of lower sales volumes and a lower average selling price for integral cement and ready-mix concrete in the Singapore market.

However, the group’s China joint ventures saw a recovery in infrastructure construction activities which led to higher revenue contributions for the quarter.

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