TEE International Q3 profit slumps 58.9%

Singapore

TEE International registered a 58.9 per cent slump in third-quarter net profit as non-controlling interests took a bite out of the bottom line.

Profit attributable to shareholders was $567,000 for the three months ended Feb 28 after taking out $587,000 for minority interests. A year ago, when subsidiary TEE Land had yet to be listed, a $52,000 loss was attributed to minority interests.