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TTJ Holdings Report 29% Slump In FY15 Net Profit
Daily Bulletin | 25 September 2015
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TTJ Holdings has announced a 28.7 percent slump in FY15 net profit to $15.5 million, from $21.8 million last year on the back of an approximate equivalent percentage slump in revenue.

Revenue fell 30.1 percent to $94.1 million mainly due to lower contributions recorded from the structural steel business. The structural steel business saw lesser work completed for on-going projects as compared last year, furthermore, for on-going projects, the group executed fewer large-scare projects of higher contract value as compared to FY14.

A reduction of 40 percent in other gains to $1.2 million due to decrease in sales of scrap metal, as well as an increment of other losses to $3 million from $0.3 million due to an inventory written down and foreign exchange losses contributed to the erosion of profitability in FY15.

The erosion of profitability was partially offset by a decrement of administrative expenses of 36.8 percent to $7.7 million due to decrease in staff related cost.

TTJ Hldgs  0.230 +0.010 +4.55%   
Business: Co mainly engages in the structural steel business and operates dormitories in S'pore. [FY18 Turnover] Structural steel (98.8%), others (1.2%).

Insight: Dec-18, 1Q19 revenue jumped 39.5% to $19m mainly d... Read More

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