CWT, which is in take-over talks with China's HNA Holding, on Tuesday reported a huge surge in its second-quarter net profit, powered by growth at its engineering and commodity marketing businesses.
Net profit attributable to common shareholders was S$49.9 million in the second-quarter from S$19.9 million in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.
Revenue at Singapore's largest home-grown logistics provider, increased 9 percent to S$2.6 billion in the three months ended June 30.
"The surge in performance was contributed significantly by Engineering Services arising from the finalisation of a design-and-build project as well as Commodity Marketing," the company said in a statement.
CWT last month sought an update from HNA Holding Group on the latter's S$1.4 billion privatisation offer for the group.
On April 9, HNA had launched a general offer for CWT at S$2.33 a share.
CWT had S$3.8 billion in total assets as at June 30.
Shares in the company closed 2.4 percent higher at S$2.12 on the Singapore Exchange. Stock has gained about 10 percent so far this year.