TTJ Q3 net profit up 27%

STRUCTURAL steel fabricator TTJ Holdings on Wednesday posted a net profit of S$3.05 million in the third quarter, up 27 per cent from the same period a year earlier.

Revenue in the three months to April 30 was S$28.66 million, up 71 per cent from the same period a year earlier, mainly contributed by the structural steel business. It also operates a smaller dormitory business.

Third-quarter gross profit margin fell to 21.9 per cent from 27.4 per cent in the same period a year earlier, due to different margins for projects executed during these periods.

As at June 6, TTJ's order book stood at S$195 million. As at April 26, its order book was S$217 million. TTJ expects to substantially complete the orders in its book between now and the 2021 financial year.

"The Group continues to experience a healthy level of enquiries for a mix of public and private-sector projects," it said in its results filing on Wednesday.

TTJ continues to explore opportunities in its business of waste management and treatment, including identifying potential acquisition opportunities, it said.

Earnings per share was 0.87 Singapore cent, up from 0.69 Singapore cent in the third quarter last year.

Net asset value per share was 39.58 Singapore cents as at April 30, up from 37.56 Singapore cents as at July 31 last year.

TTJ shares closed unchanged at S$0.34 on Wednesday before the results were released.