Garment maker GTI posts falling numbers
Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a 0.88 percent drop in revenue for the second quarter this year that led to net profits plummeting by 54 percent compared to the same period last year, according to a release on Cambodia Securities Exchange yesterday.
Revenue for the second quarter amounted to $24.8 million, down $220,000, with net profit falling by $1.1 million to $928,170. Meanwhile, half-year performance showed revenues increasing overall to $42.3 million with net profit at $1.2 million, nearly $2.4 million less than the company made during the first six months in 2016.
The company’s share price remained unchanged yesterday at 4,080 riel ($0.99) with no trading activity.