Published:
TEE International’s profits up 23.3% in 2Q15
On the back of higher-margin projects.
With increased contribution from its Singapore real estate associates, TEE Group recorded improvements in net profit.
According to a media release, TEE International Limited had achieved a 23.3% growth in net profit to $2.6m for 2Q15. For 1H15, TEE’s net profit grew 46.8% to $4.7m.
Ms Florence Saw, Executive Director of TEE said: “Our key focus is on delivering the pipeline of engineering projects on time, and at the same time, leverage on our core fundamentals in engineering, to build our integrated business platform and strengthen our position in key markets.”
Post distribution, TEE will remain as the single largest shareholder of TEE Land.
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