TEE International sunk into the red with a net loss of S$4.1 million for its third quarter ended Feb 29, 2020, compared with a net profit of S$435,000 a year ago. Read more at The Business Times.
TEE International sunk into the red with a net loss of S$4.1 million for its third quarter ended Feb 29, 2020, compared with a net profit of S$435,000 a year ago.
Cost of sales increased by S$5.1 million in the infrastructure businesses and engineering projects, resulting in an overall gross loss position, the company said in a bourse filing late Tuesday evening. Based on continuing operations, the group's loss per share stood at 1.79 Singapore cents, compared with earnings per share of 0.32 cent in the year-ago period.
Revenue for Q3 fell 1.9 per cent to S$100.7 million from S$102.5 million a year ago, due mainly to lower revenue from its infrastructure business.
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