Gross profit margin however fell by 3.1 percentage points to 14.05%, which Tai Sin attributes to pricing pressure from stiff competition in the infrastructure sectors, which led to eroded margins of its C&W segment projects which it secured two to three years ago.
SINGAPORE (May 15): Tai Sin Electric reported $7.3 million in earnings for the 9M ended March, a 23% decline from earnings of $9.5 million in 9M18 due to lower margins, primarily in the Cable & Wire (C&W) business segment.
Revenue for the period grew 4.43% y-o-y to $247.7 million from $237.2 million on the back of higher revenue from the C&W and Test & Inspection segments due to higher infrastructure and industrial project deliveries, as well as laboratory testing services revenue, respectively.
