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Tiong Woon FY19 earnings flat at $2.8 million as expenses rise in tandem with revenue

Uma Devi
Uma Devi8/28/2019 06:39 PM GMT+08  • 2 min read
Tiong Woon FY19 earnings flat at $2.8 million as expenses rise in tandem with revenue
SINGAPORE (Aug 28): Tiong Woon Corp reported FY19 earnings of $2.79 million, down 1% from FY18.
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SINGAPORE (Aug 28): Tiong Woon Corp reported FY19 earnings of $2.79 million, down 1% from FY18.

Revenue for the year rose 20% to $117 million from a year ago. This was led by a 16% increase in revenue from the heavy lift and haulage segment to $105.8 million from $91.2 million a year ago.

The marine transportation segment saw revenue increase 48% due to more chartering jobs while revenue from the trading segment doubled on the back of more equipment sold in FY19.

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