GTI Reports Bullish Gains

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). For more on this story, please click here.