Tee International posts 5.5% fall in 2Q net profit, 1H net profit fall 17.9%

Tee International says net profit for the second quarter ending November fell 5.5% to $3.68 million compared to a year ago.

Revenue was down 42.4% to $38.75 million due to lower revenue recognised from large-scale projects nearing completion.

For the half-year period, the firm’s net profit fell 17.9% to $5.91 million from the same period a year ago.

Revenue for the half-year period dropped 34% to $78.77 million.