Stamford Tyres: Profit more than trebled in FY2017

11th August 2017 | 0 Comments
 
Stamford Tyres: Profit more than trebled in FY2017
Stamford Tyres is active in a total of ten markets in Asia, Africa and Australia

Singapore-based tyre distributor Stamford Tyres Corporation Limited has reported a 213.6 percent year-on-year increase in net profit for the 2017 financial year, which ended on 30 April 2017; compared with 2015, net profit last year was up 376.5 per cent. This profit of S$8.1 million (£4.6 million) was accompanied by a gross margin of 26.2 per cent, up from 24.7 per cent in 2016 and 22.1 per cent in 2014. Total revenue for 2017 was $235.8 million (£133.1 million), 1.7 per cent lower than the previous year. Revenue derived from the distribution of tyres and wheels accounted for 87.2 per cent of total revenue while wheel manufacturing accounted for 12.8 per cent.

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