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TTJ Holdings' Q2 net profit rises 19%

NET profit for steel company TTJ Holdings grew 19 per cent to S$3.7 million from the preceding year for its second quarter ended Jan 1, thanks to its structural steel business.

Earnings per share increased to 1.05 Singapore cents from 0.88 Singapore cent in the preceding year. No dividend was declared.

Revenue increased 32.4 per cent to S$26.5 million from the previous year. The group also recorded an increase in administrative expenses from S$1.7 million to S$2 million in the second quarter, mainly due to expenses incurred by a new subsidiary which was acquired during the second half of their FY2017.

Shares of TTJ Holdings finished S$0.325 or 0.5 cent higher on Wednesday before results were announced.