The group says that revenue growth is due to the increase in contributions from heavy lift and haulage segment, but the lower gross profit margin was attributed to sales mix of projects undertaken during the year.
Tiong Woon Corporation Holding has reported earnings of $19.2 million for the full year ended June 30, up 6% y-o-y.
The group’s revenue for the full year grew 14% y-o-y to $163.5 million, while gross profit grew 4% y-o-y to $61.4 million. However, gross profit margin declined 3.6 percentage points (ppts) to 37.6%.
