Thursday, Apr 2, 2015Thursday, Apr 2, 2015
News
 

TEE International's net profit shrinks nearly a third to $2.5m

Published on Jan 8, 2013 8:30 PM
 

TEE International has posted a 32.9 per cent drop in second quarter net profit to $2.5 million.

Revenue for the three months ended Nov 30 was up 13.5 per cent at $44 million.

This was mainly attributable to recognition of revenue from some of the construction projects which were awarded in last quarter and ongoing projects.

The fall in profit was mainly due to the increase in income tax expense and lower contribution from associates.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!