Stamford Tyres posts Q2 profit of $4.85m

Singapore

STAMFORD Tyres swung to a fiscal second-quarter net profit of $4.85 million, from a $2.97 million loss a year earlier.

Total revenue for the three months ended Oct 31, 2013 was $71.7 million, 11.9 per cent lower than the $81.4 million a year ago. This was mainly due to weaker export sales of Sumo Firenza and mining tyres, the tyre and wheel distributor said yesterday.