TTJ Holdings chalks up 40% rise in Q2 FY16 net profit to S$5.4m

STRUCTURAL steel specialist TTJ Holdings reported a 40 per cent increase year on year in net profit to S$5.41 million for the second quarter of FY16 ended Jan 31, 2016, thanks to higher revenue and the absence of other losses.

Revenue rose 4 per cent to S$28.56 million on the back of higher contributions from its structural steel business.

The corresponding quarter in FY15 also had other losses amounting to S$1.44 million.

Earnings per share came to 1.55 Singapore cents, rising from 1.1 cents in the corresponding quarter a year earlier.

For the six month period, net profit climbed 18 per cent to S$9.53 million while revenue was 4 per cent higher at S$54.16 million.

TTJ's managing director Teo Hock Chwee said: "Despite the economic slowdown, there are opportunities in the public sector as BCA has forecast a 14-year record high for government-related projects in 2016. This is in addition to sustained demand from institutional and other civil engineering projects. We will actively pursue these opportunities and continue to grow our order book while optimising our productivity and cost management."