Stamford Tyres posts 52% earnings growth in FY16

SINGAPORE (June 27): Stamford Tyres posted a 51.9% surge in earnings to $2.6 million for FY2016.

For the full year to April, revenue fell by 17.5% to $242.2 million, on the back of lower sales in some markets.

However, gross profit margins rose by 2.6 percentage points to 24.7% from the value added activities at its Stamford Tyres Mart retail chain and truck tyre centres, as well as lower cost of sales.

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