Stamford Tyres net profit rises 24% for Q1

Singapore

STAMFORD Tyres Corporation on Monday announced a 24 per cent rise in its first quarter net profit to S$1.9 million on the back of improved sales in Australia.

For the three months ended July 2017, earnings per share stood at 0.82 Singapore cent, up from 0.66 Singapore cent a year ago.

The mainboard-listed company, which distributes tyres and wheels to over 90 countries, recorded a 1.5 per cent rise in revenue to S$58.9 million for Q1 …