KS Energy's revenue climbed 29.4% to $196.2m
Thanks to “improving demand” in Asia.
According to OCBC Investment Research, KS Energy (KSE) reported a 29.4% YoY rise in revenue to S$196.2m and a net profit of S$1.6m in 2Q13 vs S$0.7m in 2Q12, such that 1H13 revenue and net profit accounted for 54% and 42% of OCBC's full year estimates, respectively.
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Gross profit margin was 22.8% in 2Q13 compared to 27.5% in 2Q12 and 23.3% in 1Q13, while operating profit was S$9.7m vs a loss in 1Q13. The group mentioned that it continues to experience “improving demand” from the oil and gas industry in Asia and believes that it is well positioned to tap into new opportunities in the oil and gas market.