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

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to

  • EBA withdrawal provides ‘opportunity for growth’

    Economic analyst Khoun Bunny said on Tuesday that the loss of the EU’s preferential Everything But Arms (EBA) agreement could be a golden opportunity for Cambodia to show it deserved to be ranked sixth on the list of the world’s fastest-growing economies. Government

  • Malaysia MP accused of ‘influencing law’

    Malaysian Member of Parliament (MP) Larry Sng arrived in Siem Reap early on Wednesday, in what was slammed by one NGO as efforts by Kuala Lumpur to “influence Cambodian law”. The Malaysian Embassy in Phnom Penh requested on January 30 “cooperation from the Ministry of Foreign