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Tai Sin posts 34.7% decline in 1Q earnings to $3.2 mil

Michelle Zhu
Michelle Zhu 11/14/2017 05:40 PM GMT+08  • 2 min read
Tai Sin posts 34.7% decline in 1Q earnings to $3.2 mil
SINGAPORE (Nov 14): Tai Sin reported earnings of $3.2 million for the first quarter ended Sept, down 34.7% from the $4.9 million of revenue it posted a year ago on lower revenue in certain segments, lower export sales, reduced operating income and higher
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SINGAPORE (Nov 14): Tai Sin reported earnings of $3.2 million for the first quarter ended Sept, down 34.7% from the $4.9 million of revenue it posted a year ago on lower revenue in certain segments, lower export sales, reduced operating income and higher operating expenses.

Revenue grew 14.1% to $78.3 million compared to $68.6 million a year ago, mainly due to the group’s Cable & Wire (C&W) segment which contributed increased revenue due to higher delivery to commercial & residential and Infrastructure sectors in Singapore and Vietnam.

Group revenue was further boosted by higher revenue contributions from Electrical Material Distribution (EMD) segment on higher sales to the industrial building and electronic clusters, as the segment began to pick up more orders from various projects.

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