Grand Twins International (GTI), the only publicly traded garment company in Cambodia, reported hefty earnings for the first quarter of the year.
In a quarterly report released yesterday, the Taiwanese-owned manufacturer acknowledged that net profits rose by 157 percent to $1.6 million, up from $628,000 reported during the same period last year. The firm’s revenues for the period of January to March climbed by nearly 15 percent from $14.7 million to $17 million.
However, the company’s unaudited financial report showed that cost of sales — a breakdown of labour, materials and overhead — grew by $1.5 million for the quarter.
GTI is owned by QMI Industrial Co Ltd and manufactures products for Adidas.
The firm’s share price increased by 4 percent yesterday, closing at 3,900. Its share price increased by 4 percent yesterday, closing at 3,900 riel ($0.96).
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