SINGAPORE (July 28): TEE International posted earnings of $2.6 million for its 4Q16 ended May, 68.9% lower than its earnings of $8.3 million for the same period a year earlier.  

Revenue grew 4.5% to $93.5 million but cost of sales increased 18.8% to $83.9 million.

Gross profit fell by 49.2% to $9.6 million.

For the full year, earnings fell 24.5% to $8.4 million while revenue was up 20.1% to $261.7 million.

As at end May, the group’s total order book stands at $229 million for its engineering business.

Looking ahead, TEE International says it intends to continue focusing on “expeditious completion” of its on-going engineering and real estate projects, prudent cost management for engineering, and selective pursuit of investment opportunities.

The counter last traded flat at 24 cents on Monday.