Total operating expenses increased by 6.8% to $14.9 million in 2Q18, compared to $14.0 million in 2Q17, mainly due to higher operating lease rentals, higher foreign exchange costs and allowance for doubtful trade receivables.
SINGAPORE (Dec 7): Stamford Tyres reported a 10.4% rise in 2Q18 earnings to $1.62 million compared to $1.47 million in 2Q17.
Total revenue for the second quarter ended October was 2.58% higher at $59.9 million from $58.4 million a year ago, mainly due to improved sales in Australia and the South East Asian markets.
