Logo of Phnom Penh Post newspaper Phnom Penh Post - Grand Twins sees profit up despite revenue drop

Grand Twins sees profit up despite revenue drop

Grand Twins sees profit up despite revenue drop

Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a slight 2 percent decrease in total revenue for the third quarter of this year, while net profit increased by 23 percent compared to the same period last year, according to a release on Cambodia Securities Exchange yesterday.

The release showed that total revenue earned by the company amounted to $20 million, approximately $486,000 less than compared to the same period last year. Net profits increased by $240,000 during the period to reach $1.29 million.

For the first nine months of 2017, GTI’s total revenue reached $62 million – a marginal year-on-year decrease – while net profit after tax paid registered at $2.5 million, a decrease of 46 percent compared to 2016.

MOST VIEWED

  • Tourists urged not to skip trip

    The Ministry of Tourism has called on international tourists not to cancel trips to Cambodia, but urged them to adhere to several dos and don’ts when arriving in the Kingdom during the Covid-19 pandemic. The ministry released an eight-point instruction manual on Wednesday published

  • The taxman cometh – Cambodia’s capital gains tax casts the net on individual taxpayers

    In a country where only limited personal income tax existed, the new taxation law beginning January 1, 2021, will make taxpayers out of Cambodians, whether they are ready for it or not About two years ago, a little known amendment was made to Article 7 of the Law

  • Cambodian-American gets Star Trek treatment

    Kevin Ung, a Cambodian-American whose family escaped genocide during the Khmer Rouge’s reign of terror, was recently selected from thousands of applicants to participate in the Television Academy Foundation’s inaugural 2020 Star Trek Command Training Programme, a course intended to give hands-on filmmaking experience

  • Cambodia seeks to be transport hub

    Cambodia is working on several fronts to modernise its transport infrastructure and services, concentrating on opening new international gates to relieve and balance traffic congestion at its borders, Minister of Public Works and Transport Sun Chanthol said on Thursday. This is part of the Kingdom’

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • First ‘mobile kitchen’ in Cambodia enters service

    A catering company recently rolled out Cambodia’s first “mobile kitchen” – a $50,000 container capable of serving up to 200 people at a time. The kitchen is the brainchild of Seng Hok Heng Catering Services. At 4.4m-high, 6.8m-long and 2.4m-wide (expandable to 6.8m), the kitchen is equipped