TTJ Holdings posts 25% decline in 1H17 earnings to $7.2 mil

SINGAPORE (March 8): TTJ Holdings, the structural steel specialist, reported a 25% decline in earnings to $7.2 million for the first six months of FY2017 from a year ago on the back of lower revenue.

Group revenue for 1H17 fell 14% to $46.5 million from $54.2 million a year ago, as the group says its performance was impacted by a challenging economic environment and higher competition, in addition to the expiry of tenure for its Terusan Lodge I dormitory – which resulted in lower revenue contributions from both its structural steel and dormitory businesses.

For the 2Q17 ended Jan, TTJ’s earnings fell 53% to $2.9 million from $6.3 million in the previous year on a 30% fall in revenue to $20 million.

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