Stamford profits hammered in Q3
Newly-published third quarter results show a Stamford Tyres experienced slight decline in turnover and a marked year-on-year drop in profits during the period. In the three months ending 31 January 2014, the Singapore-based company’s revenues decreased 2.94 per cent in the quarter to S$71.7 million (£34.0 million). Gross profit was down 2.35 per cent to $16.6 million (£7.9 million). Net profit fell 62.66 per cent to S$838,000 (£397,560).