Grand Twins revenue up as profits dive 81%

Listed garment manufacturer Grand Twins International generated revenue of $17.51 million during the first quarter of the year, an increase of 3.41 percent compared with the same period in 2016, it said in a filing to the Cambodia Securities Exchange yesterday.

The Taiwanese-owned firm reported net profit of $309,734 during the first quarter, a decline of $1.31 million, or 80.85 percent, compared with the same period a year earlier. The decline in profit was attributable to increased cost of raw materials, employees’ salary and administrative expenses, it said.

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