Stock New: Tat Hong FY net profit more than double!

Tat Hong Holdings was higher after the supplier of cranes and other heavy equipment reported that its year to March net profit more than doubled year-on-year to 44.25 mln sgd, bolstered by exceptional gains and higher sales. dealers said. The stock was also rising on the back of its increased dividend payout, with the company declaring a special and ordinary final dividend of 0.027 sgd per share, up from 0.012 sgd in the previous year. "We are delighted to have set a new record full year net profit of 44.25 mln sgd in the year to March 2006. We continued to benefit from the strong growth in the energy resources and infrastructure sectors in Asia-Pacific, which fuelled demand for our cranes and heavy equipment," Tat Hong president and CEO Roland Ng said. Tat Hong was up 0.015 sgd or 1.60 pct at 0.95 with 583,000 shares traded.