SINGAPORE (Mar 7): Structural steel specialist TTJ Holdings saw its earnings rise 19% to $3.7 million for the 2Q ended January, from $3.1 million a year ago.
Revenue grew 32% to $26.5 million in 2Q18, from $20.0 million a year ago. The increase was mainly contributed by its structural steel business.
Gross profit margin fell 6.3 percentage points to 19.9% in 2Q18. This was mainly due lower projects executed and contribution from its higher-margin dormitory business.
Other gains increased to $0.8 million in 2Q18, from $0.3 million a year ago, mainly due to a foreign exchange gain.
Earnings per share (EPS) rose to 1.05 cents for 2Q18, from 0.88 cents a year ago.
As at end January, cash and cash equivalents stood at $54.8 million.
As at Mar 7, TTJ’s projects order book stood at $136 million, which is expected to be substantially completed between FY18 and FY21.
Going forward, the group says it will continue to monitor its costs closely and enhance productivity to remain competitive.
“We are working round the clock to counter the competition we continue to face in the structural steel industry,” says Teo Hock Chwee, TTJ’s chairman and managing director.
“With an anticipated pick-up in construction demand in 2018 by the government, we hope to sustain our structural steel business while at the same time, exploring opportunities in waste management and treatment with the potential to broaden TTJ’s revenue base,” he adds.
According to the group, this includes identifying potential acquisition opportunities in its waste management and treatment segment.
Shares of TTJ closed half a cent up at 32.5 cents on Wednesday.
