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Logo of Phnom Penh Post newspaper Phnom Penh Post - GTI posts 390% surge in net profit last year

GTI posts 390% surge in net profit last year

| Publication date 17 February 2017 | 09:28 ICT

GTI posts 390% surge in net profit last year

Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a 44 percent surge in revenue and a massive 390 percent in net profit, according to its annual report released on the Cambodia Securities Exchange yesterday.

Total revenue reached $82 million, an increase of $22 million compared to 2015, while net profit soared to $5.2 million, an increase of nearly $4 million compared to the previous year.

In 2015, GTI’s quarterly reports showed huge swings in revenue, with high profits and deep losses, leaving the company after rectifying an inadvertent accounting error - with only a little over a $1 million in net profit.

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