Engro Corp posts full-year net earnings of $13.4m, up 60.4%

Engro Corporation has reported net earnings of $3.99 million in the fourth quarter of the financial year ended Dec 31, 2011, compared to a net loss of $664,000 in the same quarter a year ago.

Revenue rose 6.8% to $30.85 million from $28.89 million.

For FY2011, earnings increased 60.4% from a year ago to $13.39 million on the back of improved gross margins of $10 million and a $2.7 million exchange gain. Revenue increased 10% to $115.71 million.

Engro has proposed a first and final dividend of 3 cents per share.