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

  • Chinese ‘prank’ threat video is no joke for Cambodia

    ‘Preah Sihanouk province, in the next three years, whether safe or chaotic, will be under my control,” declared a Chinese man in a white T-shirt, as another 19 men stood behind him shirtless, in a video that went viral on social media last month. After the

  • Woman detained for murder of hairdresser over unpaid $1K debt

    A woman has been held in connection with the murder of a 40-year-old widow. The victim’s daughter claims the motive was the suspect’s unpaid four million riel ($1,000) debt to her mother. The 17-year-old girl, Pich Sievmey, said her mother, Koem Yaneang, a hairdresser

  • ABA reports $71.8M net profit

    ABA Bank, a member of the National Bank of Canada group, recorded a net profit of $71.8 million last year, up 55 per cent from $46.2 million in 2017, its annual report released on Monday stated. A rise in the bank’s loan portfolio and the expansion of stated

  • ‘Life goes on’ if Cambodia loses Everything But Arms

    Cambodia's business sector is exploring ways to mitigate any fallout from a possible loss of access to the EU’s Everything But Arms (EBA) agreement as talks continue before the 28-member bloc makes a final decision. The EU monitoring process is set to conclude in