SINGAPORE (Aug 11): Sapphire Corporation says earnings for the six months ended June jumped more than fivefold to $4.7 million from $0.9 million a year ago, driven by contributions from rail engineering subsidiary Ranken Infrastructure.

Half-year revenue more than tripled to $107.1 million as sales recorded by Ranken – which is licensed for design, construction and project consultation in China’s rail transit sector – hit $90.9 million on the back of several project milestones.

For the 2Q ended June, revenue rose 278% to $53.4 million; with $46.8 million in contributions from Ranken and $6.6 million from Mancala Holdings, the group’s wholly-owned Australia-based mining services business. The lower revenue from Mancala was due to the weaker market and falling commodity prices.

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