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Stamford Tyres posts 24% rise in 1Q earnings to $1.9 mil on higher sales

PC Lee
PC Lee9/11/2017 06:45 PM GMT+08  • 1 min read
Stamford Tyres posts 24% rise in 1Q earnings to $1.9 mil on higher sales
SINGAPORE (Sept 11): Stamford Tyres Corp reported a 24.02% rise in 1Q earnings to $1.9 million from $1.6 million a year ago.
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SINGAPORE (Sept 11): Stamford Tyres Corp reported a 24.02% rise in 1Q earnings to $1.9 million from $1.6 million a year ago.

Revenue rose 1.48% to $58.9 million from $58.1 million, mainly due to improved sales in Australia.

Gross profit was $15.7 million in 1Q18 compared to $14.8 million in 1Q17. Gross profit margin increased to 26.7% from 25.4% a year ago, mainly led by value-added activities at the group’s Stamford Tyres Mart retail chain and truck tyre centres.

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