LOGISTICS group Chasen Holdings recorded earnings of S$1.6 million for the first half ended September, up 53 per cent from S$1.1 million a year ago.

Earnings per share (EPS) rose to 0.43 Singapore cent for the first half ended September, from 0.28 cent in the year-ago period.

H1 revenue jumped 44 per cent to S$84.0 million, from S$58.4 million in the 6-month period a year ago.

The diversified logistics group said that the increase was due to business recovery from the pandemic, which resulted in higher contributions from all 3 business segments.

The group's third party logistics (3PL) segment led the increase in revenue, nearly doubling to S$32.9 million in the first half, from S$16.7 million in the year-ago period.

The group said revenue from its 3PL segment is expected to be robust in the quarters ahead as cross-border land transportation services continue to gain business momentum amid ongoing pandemic-led disruptions to air and sea freight.

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Revenue from its specialist relocation segment, which has historically been the group's main revenue contributor, rose to S$33.7 million in H1, from S$30.6 million a year ago.

Meanwhile, revenue from its technical and engineering (T&E) segment jumped to S$17.4 million in H1, from S$11.1 million a year ago.

Chasen said its T&E subsidiary had received a letter of award worth S$7.9 million to install solar panels on about 180 HDB blocks and 3 commercial buildings. The project will commence in the second half of FY2022 and is targeted for completion in early FY2023.

In total, the group said it had secured several fresh contracts worth a combined S$19.9 million during the period.

"We have secured several fresh and sizeable contracts despite the challenges imposed by the pandemic. These will keep us busy in the coming quarters even as we remain on the lookout for other opportunities," said managing director and CEO Low Weng Fatt.

Shares of Chasen closed 2.7 per cent or 0.2 Singapore cent lower at 7.3 cents on Nov 9, before the results announcement.