Tan Chong International reports record sales, with near doubling of profit
Published on Mar 31, 2014 9:24 PM
Motor distributor Tan Chong International has posted a 91 per cent rise in net profit to HK$2.06 billion (S$329.2 million).
Contribution to consolidated profit derived from an increase in fair values of listed securities amounted to HK$1.4 billion. Thus, a significant portion of profit was obtained from investments.
Revenue for the year ended Dec 31 rose 40.1 per cent to a record HK$9.15 billion.
In Singapore, Nissan vehicles delivered better sales and market share compared to 2012, resulting in a 12 per cent increase in sales units despite an extremely challenging car market last year.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!