Avarga Limited reported earnings results for the second half and full year ended December 31, 2022. For the second half, the company reported sales was SGD 989.23 million compared to SGD 992.33 million a year ago. Net income was SGD 7.66 million compared to SGD 1.49 million a year ago. Basic earnings per share from continuing operations was SGD 0.0084 compared to SGD 0.0016 a year ago. Diluted earnings per share from continuing operations was SGD 0.0084 compared to SGD 0.0016 a year ago.

For the full year, the company reported sales was SGD 2,368.34 million compared to SGD 2,435.41 million a year ago. Net income was SGD 50.88 million compared to SGD 73.3 million a year ago. Basic earnings per share from continuing operations was SGD 0.056 compared to SGD 0.0798 a year ago. Diluted earnings per share from continuing operations was SGD 0.056 compared to SGD 0.0798 a year ago.