Garment factory GTI posts 83% Q2 rise in revenue hitting $44M
Cambodia Securities Exchange-listed (CSX) and Taiwan-based firm Grand Twins International (Cambodia) (GTI) posted an 83 per cent increase in revenue to $43.53 million in the second quarter of this year on the same period last year, according to their quarterly report filed to CSX.
GTI, which supplies clothing to major European companies such as Adidas, also saw a net profit increase during the period, rising more than 123 per cent to $205,520, said the report.
The firm’s chairman Yang Shaw Shin said in a statement to CSX that the company is still striving to strengthen relationships with customers, especially Adidas, to increase orders for this year.
“We will strive more to improve the corporate governance strengthening the company and to stick to the vision and mission set by previous years.
“For the next quarter, the company expects to make a better profit than the second quarter,” he said.
The report shows that for the six months as of June 30, GTI’s revenue totalled more than $80 million, an increase of 70 per cent over the same period last year, while after-tax profits were up 21 per cent at $377,800.
As of June 30 this year, the company’s total assets were over $92 million, with a total equity of over $68.77 million, according to the report.