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FINWIRES

EnGro Sees 'Significant Improvement' in H1 Profit; Shares Surge 9%

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EnGro (SGX:S44) expects to report a "significant improvement" in its net profit during the first half of the year, compared with a year earlier, according to a Friday filing with the Singapore Exchange.

Attributable profit a year earlier skyrocketed 1,922% year over year to SG$8.7 million on the back of a 25% jump in revenue.

Shares of the building materials manufacturer surged nearly 9% in Monday trading.

The improved net profit is being attributed to higher sales volumes. The company is expected to disclose its financial statements on or before Aug. 14.

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