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Stamford Tyres Corporation’s Net Profit Plunges 83 Percent
Stamford Tyres Corporation’s revenue for FY15 remained relatively unchanged at $292.5 million, from $290.6 million in FY14.
Gross profit margin fell 0.7 percentage points due to pricing pressure arising from market competition in some markets, while operating expenses increased by $4.4 million.
As a result, net profit plunged 83 percent to $1.7 million, from $10 million in FY14.
Going forward, the group will continue to optimize its product mix and manage operating costs to enhance its performance, while building its core markets in the South East Asia.
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