The Singaporean expanding company earned $5.2m compared to $3.2m in the corresponding period of 2013.

Revenue stood at $39.3m, up from $6.5m a year ago.

The company’s strong quarterly performance was translated into an 85% increase in earnings per share, which reached $0.72.

Vallianz said its Middle East operations were the main reason for its improvement.

Darren Yeo, chief executive for Vallianz, said: “Our strong financial performance to-date reflects the group’s significant progress in expanding the scale of our operations.

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