Major projects boost earnings at structural steel firm TTJ

The Tuas West MRT extension depot and other major projects lifted second-quarter earnings at mainboard-listed structural steel specialist TTJ Holdings on Wednesday.

Net profit climbed 28 per cent to $5.3 million for the three months ended Jan 31 this year from the preceding year.

Revenue also rose by 28 per cent to $41.1 million for the quarter, compared with the preceding year.

The company said the revenue growth was mainly due to several major projects, including the Lanxess Compass Project and Nalco's Eastern Hemisphere Core Plant.

Its order book was at $130 million as at March 12, which it said it expected to substantially complete between financial year 2014 and financial year 2016.

Earnings per share stood at 1.51 cents for the period, up from 1.18 cents the year before.

The group's net asset value per share rose from 28.52 cents as at July 31 last year to 30.43 cents as at Jan 31 this year.

Its shares were last traded on Tuesday, when they closed half a cent up at 30 cents.