Logo of Phnom Penh Post newspaper Phnom Penh Post - Taiwanese garment company posts surge in Kingdom profits

Taiwanese garment company posts surge in Kingdom profits

Content image - Phnom Penh Post
Women work at a garment factory in Phnom Penh. TANG CHHIN SOTHY/AFP

Taiwanese garment company posts surge in Kingdom profits

Taiwanese-owned garment manufacturer Grand Twins International (Cambodia) Plc (GTI) posted a 48.78 per cent surge in revenue and a massive 118 per cent in net profit last year, according to its report filed with the Cambodia Securities Exchange on Wednesday.

Its total revenue reached more than $120 million – a $39 million increase compared to 2017 – while net profit soared to $1.44 million, a $783,183 increase compared to the previous year.

During the fourth quarter of last year, GTI received total revenue of over $38.94 million – a 117.97 per cent rise – while its net profits were up 113.98 per cent from the same period in 2017 to $264,587.

GTI board chairman Yang Savsin said in a statement filed with the stock exchange that the increase was thanks to the company’s further improvement of its production lines to meet customer needs.

“[We] will strengthen our relationships with our customers, especially our main client, Adidas, with the goal of seeing an increase in orders for 2019,” he said, adding that: “We will cooperate with other partners to earn extra revenue through re-sewing and packaging.”

As of December 31, last year, GTI’s total assets are valued at more than $89 million, while its total capital was more than $68 million.

GTI stocks were not traded on the exchange on Wednesday – its share price stood at 4,360 riel ($1.09) per unit.

MOST VIEWED

  • Touch: Rainsy will never return

    Sam Rainsy, the “acting president” of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), has claimed it has achieved 70 per cent of its struggle to find a solution to the current political situation in the Kingdom. Just before boarding a plane at Charles de Gaulle

  • Sokha continues call for dropping of charge after bail conditions reduced

    Not satisfied with having his bail conditions reduced, allowing him to travel freely in Cambodia, Kem Sokha says he wants his charge totally dropped. “As an innocent man who has been in detention for two years even without being found guilty, I continue to demand

  • Sar Kheng: Rainsy return not blocked

    Minister of Interior Sar Kheng clarified that Cambodia had never blocked Sam Rainsy from returning to the Kingdom. However, he said Cambodia reserved the right to take legal action as allowed by law against activities aimed at destroying the Kingdom. “No one blocked the return

  • Reports: Rainsy barred from Jakarta flight

    Sam Rainsy was on Wednesday refused entry to a flight from Malaysia to Indonesia, media reported late on Wednesday. The “acting president” of the Supreme Court-dissolved Cambodia National Rescue Party’s announced return to the Kingdom on Independence Day on Saturday failed to occur. Rainsy

  • King Sihamoni presides over opening of Water Festival

    King Norodom Sihamoni presided over the lighting of the lantern barges, representing the many ministries, in front of the Royal Palace on Sunday as the first day of the annual Water Festival celebrations went smoothly. Bun Veasna, an official at the National Committee for Organising

  • Government studying EU’s preliminary report on EBA

    The Ministry of Foreign Affairs and International Cooperation on Wednesday said the government was studying the EU Commission’s preliminary report on the human rights situation in the Kingdom that could lead to a suspension of access to its “Everything But Arms” (EBA) agreement. The