Live Share Market : TTJ Holdings posts 25% decline in 1H17 earnings to $7.2 mil

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TTJ Holdings, the basic steel authority, announced a 25% decrease in income to $7.2 million for the initial six months of FY2017 from a year prior on the back of lower income.

Aggregate income for 1H17 fell 14% to $46.5 million from $54.2 million a year prior, as the gathering says its execution was affected by a testing monetary condition and higher rivalry, notwithstanding the expiry of residency for its Terusan Lodge I quarters – which brought about lower income commitments from both its auxiliary steel and dorm organizations.

For the 2Q17 finished Jan, TTJ’s income fell 53% to $2.9 million from $6.3 million in the earlier year on a 30% fall in income to $20 million.

In a Wednesday discharge, the gathering highlights that notwithstanding its weaker monetary execution in 2Q/1H17, it has in any case secured a couple ventures with signify an aggregate request book of $59 million to-date, which incorporates contracted works for the providing and establishment of basic steelworks for Funan DigitaLife Mall.

Looking ahead, TTJ’s executive and overseeing chief Teo Hock Wee says he is cheerful that there will be more business open doors for the gathering to seek after this year, given that the BCA has estimated that open division development request in 2017 will rise.

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