TTJ earnings jump as more new contracts are secured
TTJ Holdings Limited announced its 3Q results. 9M revenue was up 7% to $107.2 million while 9M PAT was up 59% to $16.1 million. The results were attributed to revenue increases from both its structural steel and dormitory business. Going forward, TTJ has also secured new contracts. These include the structural steelwork for the proposed Yishun Community Hospital and the kingposts for the new State Courts complex in Havelock Square. Its current order book is $115 million which will be completed between FY2014 and FY2016. TTJ continues to tender for more projects and has a healthy level of enquiries for both private and public sector projects.
GET TO THE POINT : TTJ is a beneficiary of the ongoing construction boom. It is possible that market dynamics might have played a part in generating higher profit margins for TTJ given that is one of the largest steel fabricators in Singapore.
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