T T J Holdings Limited profit up 15% to $16.6m

Structural steel and dormitory businesses fueled the growth as revenues climbed 48%.

In its quarterly results release, T T J Holdings Limited (“T T J” or together with its subsidiaries, the “Group”) announced that it closed its fiscal year 2012 "with record revenue and earnings in its corporate history, marking two years of consistent growth."

"For the 12 months ended 31 July 2012 (“FY2012”), the Group achieved a net profit attributable to owners of the parent of $16.6 million, an increase of 15% over $14.4 million posted in FY2011," T T J said.

"Driven by healthy growth in both its Structural Steel and Dormitory businesses, revenue of the Group surged 48% to reach $142.9 million in FY2012, compared to $96.9 million a year ago," it said.

"The Group’s Structural Steel business, in particular, gave a strong showing with a rise in revenue to $128.7 million, from $83.7 million in FY2011. The higher sales was achieved on the back of substantial completion of contract works for major industrial projects that included the Lanxess Butyl Rubber Facility and the Singapore LNG Terminal on Jurong Island, and Tokuyama Corporation’s polycrystalline silicon solar cells manufacturing plant in Malaysia as well as for the Institute of Technical Education College Central Campus and the SuperTrees at Gardens by the Bay," it added.

"The Group’s Dormitory business generated $14.3 million in revenue in FY2012, a year-on-year increase of 8% compared to FY2011, largely from a marginal rise in rental rate," it said further.