TTJ Holdings says net profit for the 12 months ended 31 July 2011 (FY2011) soared 112% to $14.4 million on the back of a 39% surge in revenue to $96.9 million.
This compared with a profit and revenue of $6.8 million and $69.7 million respectively in FY2010.
TTJ says its strong performance in FY2011 was underpinned by robust growth in both its Structural Steel and Dormitory businesses.
In FY2011, the group's Structural Steel business grew 44% to $83.7 million from $58.2 million the same period a year ago with the substantial completions of a number of major structural steel projects during the year. They included projects such as Tower Crowns of the Reflections at Keppei Bay; Campus for Research Exceiience and Technological Enterprise (CREATE) at the National University of Singapore; and SuperTrees at Gardens by the Bay.
At the same time, revenue from Y T J’s dormitory business rose 14% to $13.2 miliion in FY2011 from $11.6 million a year ago due to a marginal hike in rental rate. In FY2011, the group’s profitability saw an improvement with gross profit margin rising to 28.5% compared to 25.5% in FY2010. This was mainly due to better gross margin derived from the projects it secured and executed during the year as well as the Gr0up’s dormitory business.
The group is also proposing a first and finai cash dividend of 0.6 cents per ordinary share in FY2011, as compared to 0.4 cents per share that it paid out in FY2010.
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