SINGAPORE (June 6): Structural steel specialist TTJ Holdings saw its earnings rise 27% to $3.1 million for the 3Q ended April, from $2.4 million a year ago.
3Q18 revenue soared 71% to $28.7 million, from $16.8 million a year ago, as a result of higher contribution from its structural steel business.
Gross profit rose 37% to $6.3 million in 3Q18, as gross profit margin fell 5.5 percentage points to 21.9% due to lower margins derived from projects executed during the quarter.
Other gains fell 61% to $0.5 million in 3Q18, from $1.4 million a year ago. This was mainly attributed to the absence of a one-off $1.1 million credit balance written back in 3Q17.
As at end April, cash and cash equivalents stood at $51.8 million.
TTJ’s project order book stood at $195 million as at June 6. The projects are expected to be substantially complete by FY21.
Going forward, the group says it will continue to monitor its costs closely and enhance productivity to remain competitive.
TTJ adds that it is continuing to explore opportunities in its business of waste management and treatment, including identifying potential acquisition opportunities.
Shares of TTJ closed flat at 34 cents on Wednesday.
