Stamford Tyres posts 24% rise in Q1 profit

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

For the three months ended July 17, earnings per share stood at 0.82 Singapore cent, up from 0.66 Singapore cent a year ago.

The group's revenue rose 1.5 per cent to S$58.9 million in Q1, 18.

Stamford's net cash flows from operating activities was S$6.3 million, down 16 per cent from S$7.5 million in Q1, 17.

Stamford closed trading at S$0.34 on Monday, down 0.5 Singapore cent, or 1.4 per cent.