SINGAPORE (Feb 23): Tat Seng Packaging Group recorded a 40.2% increase in its FY17 earnings to $20.3 million, compared to $14.5 million in FY16.
Revenue for the full year ended Dec 2017 came in at $303.0 million, 32.6% higher than $228.5 million in the previous year.
The group’s revenue from its China operations was 35.9% higher, mainly due to its subsidiaries' ability to raise its selling price, especially for sales of corrugated board, and passing on the increased cost of raw material to its customers. The increase of revenue also partly attributed to higher sales volume.
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