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News - Detailed News Story

TT International: Releases Q3FY12 Results, Operationally Profitable For Third Consecutive Quarter.

15 Feb 2012 10:16

TT International Limited released its results for the third quarter ended 31 December 2011 achieving profit from operations, before foreign exchange differences and costs related to an ongoing restructuring, for the third consecutive quarter. The Company recorded revenue of S$99.5 million for Q3FY12, a 8.9% decline from S$109.2 million a year ago despite weak market conditions globally and constraints on working capital. Reflecting the accelerated cost controls and operational improvements, its loss for Q3FY12 narrowed sharply to S$879,000 for Q3FY12 from S$14.3 million a year ago, after also factoring in foreign exchange losses of S$592,000 in Q3FY12 (Q3FY11: S$16.6 million), while expenses and professional fees related to its Scheme of Arrangement declined to S$1.7 million (Q3FY11: S$2.0 million)...

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