Revenue from the T&I segment fell by 3.9% y-o-y to $14.8 million mainly due to the lower revenue from the non-destructive testing and heat treatment services in Indonesia. “This was mainly attributable to completion of projects and fewer sizeable new contracts being secured. Nonetheless, laboratory testing services and soil investigation and monitoring related works in Singapore recorded better performance as a result of higher business volume in construction activities,” says the group.
Tai Sin Electric (SGX:500
) has reported earnings of $11.9 million for the 1HFY2023 ended Dec 31, 2022. This is 40.4% higher than the profit of $8.5 million during the 1HFY2022.
The higher earnings came on the back of a 31.33% y-o-y growth in 1HFY2023 revenue of $229.6 million. The higher revenue was due to increases across the group’s segments, except for its Testing & Inspection (T&I) segment.
