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

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.

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • Shipwreck found off coast of Koh Kong

    Royal Cambodian Navy researchers are working to identify a decades-old shipwreck found earlier this month off the coast of Koh Kong province. Divers found the 70-metre-long wreck on April 4 about a mile from Koh Chhlam island, according to Navy officials. Deputy Navy Commander Tea Sokha,