Transpacific's H1 profit soars

Gains made on commercial vehicles divestment buoys H1 profit by more than 300%.

Transpacific Industries Group (TPI) says trading conditions in the second half will be largely similar to the those experienced in the first, after posting a sharp lift in half-year profit, buoyed by gains made on the divestment of its commercial vehicles group.

In the six months to December 31, Transpacific posted a net profit of $158.6 million, a 391% increase on the $32.3 million recorded in the previous corresponding period.

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