Hiap Seng Engineering, the specialist integrated engineering group for the oil-and-gas, petrochemical and pharmaceutical industries, today reported a 279.3% surge in net profit attributable to equity holders to $15.5 million for the first half ended September 30, 2009 (1HFY2010), from $4.1 million in 1HFY2009.

This was achieved on the back of a 24.4% growth in revenue to $126.6 million from $101.7 million over the same corresponding period.

Quarter-to-quarter, Hiap Seng recorded a 34.5% increase in revenue to $70 million in 2QFY2010 as compared to $52 million in 2QFY2009 as a result of a higher percentage of completion in a number of projects, as well as savings from continued efforts in cost controls and improved productivity during the period under review.