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

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Inter-provincial travel ban lifted; Phnom Penh and Takmao not exempted

    The government on April 25 decided to lift the inter-provincial travel ban and the closure of tourist attractions across the country, effectively immediately. The travel ban and closures of all resorts were imposed on April 6 and 17 respectively in a bid to curb the spread of Covid-19,

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the