TTJ Q1 profit falls 81% on weaker sales

STEEL company TTJ Holdings on Wednesday posted a 81 per cent fall in net profit for its fiscal first quarter on weaker sales.

Net profit for the three months ended October 31, 2017 stood at S$760,000, compared to S$4.08 million a year ago.

Revenue fell 49 per cent to S$13.6 million, mainly due to the decrease in structural steel business, and the expiry of tenure for the dormitory at Terusan Lodge I resulting in no revenue contribution from the dormitory business.