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Union Gas reports 76.7% increase in 1H20 net profit to $7 mil due to higher LPG sales

Lim Hui Jie
Lim Hui Jie • 2 min read
Union Gas reports 76.7% increase in 1H20 net profit to $7 mil due to higher LPG sales
Union Gas has reported a 76.7% y-o-y surge in profits for 1H20 to $7 million, up from $4 million .
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Union Gas has announced a strong double-digit year-on-year percentage growth in both its top and bottom lines for the six months ended June.

This was led mainly by its Retail LPG business, which benefited from the higher demand from domestic households during the circuit breaker measures from April to June, and the increase in business volume from its commercial customers.

1H20 net profit surged 76.7% to $7 million, compared to the $4 million registered in 1H19, while revenue rose 27.2% to $43.2 million.

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