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