TTJ's Q1 net profit inches 1% up to $4.1m

Thanks to its structural steel business' strong performance.

Structural steel specialist TTJ Holdings posted a slight increase in net profit for its 1Q17 due to the strong performance of its structural steel business.

The group saw a 1% increase in bottomline to $4.1m as revenue climbs 4% to $26.5m. TTJ said it has secured new structural steel projects amounting to approximately $12m during the past quarter. 

"They include contracts to supply and install the fixed gangway at Changi Airport Terminal 1; to supply, fabricate and install structural steelwork at Choa Chu Kang Waterworks; and to supply civil defence shelter doors for the MRT Thomson-East Coast Line in Singapore as well as a contract from a repeat customer to supply, fabricate and install structural steelwork for the refinery and petrochemical integrated development project (“RAPID”) at Pengereng, Johor, Malaysia," the group noted.

With these, TTJ’s projects order book stood at $42 million as of December, which it expects to substantially complete between FY2017 and FY2018.

"To date, the Group continues to experience a healthy level of enquiries for a mix of public and private sector projects. Going forward, the Group will continue to monitor its costs closely and enhance productivity to remain competitive," TTJ stated.