Stamford Tyres Q2 net profit up 60%

SINGAPORE - Stamford Tyres has posted a net profit of S$1.47 million in the second quarter, up 60 per cent from the same period a year ago as expenses fell despite revenue remaining mostly flat.

Revenue in the three months ended Oct 31 fell 0.58 per cent to S$57.7 million due to lower sales in Southeast Asian markets.

Earnings per share was 0.62 cents, up from 0.39 cents a year ago.

Net asset value per share was 50.46 cents as at Oct 31, up from 49.88 cents as at April 30.