Beng Kuang Marine Ltd. (SG:BEZ) has released an update.
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Beng Kuang Marine Ltd. has reported a significant revenue increase of 113.1% in the first quarter of 2024, driven by its Infrastructure Engineering and Corrosion Prevention segments. The company’s strategic exit from loss-making businesses and productivity measures have resulted in a higher gross profit margin of 34.2%. This financial turnaround is underscored by a noteworthy profit before tax of S$11.32 million for the quarter, exceeding the entire previous fiscal year’s profit.
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