Tritech's annual profit up 30.9% to $8.4 million

And the engineering service provider is up for more with an order book of approximately $84.3 million.

Catalist listed Tritech Group Limited announced a profit after tax of S$8.4 million for the financial year ended 31 March 2011, a 30.9 per cent increase from S$6.4 million recorded in the previous financial year ended 31 March 2010

The Group’s revenue increased by 10.9 per cent from S$42.3 million for FY2010 to S$46.9 million for FY2011. Gross profit of the Group increased by 10.2 per cent to S$17.7 million for FY2011 from S$16.1 million in FY2010. As at 31 March 2011, net asset value per ordinary share stood at 25.14 cents, up from 16.72 cents as at 31 March 2010.

Dr Jeffrey Wang, Managing Director of Tritech Group Limited, said: “The performance of the Group is commendable. The increase in revenue is the result of the continued demand for the Group’s specialist engineering services arising from public infrastructure projects and private developments. The Group also reported its maiden revenue of S$1.1 million from the water treatment business arising from a water quality monitoring contract”.