SINGAPORE: Tee International, a mainboard-listed engineering and property firm, reported a 76.5 per cent plunge in third quarter net profit, to $133,000.
Revenue for the three months to Feb 28 rose 15.5 per cent to $43.1 million, from a year earlier, owing to higher revenue for ongoing engineering projects.
Cost of sales also increased by 19.2 per cent to $37.3 million. Gross profit fell 3.8 per cent to $5.8 million.
Other operating income fell 10.6 per cent to $995,000, owing to lower interest income from associated companies.
