Grand Twins revenue plunges
Grand Twins International (GTI), one of two listed firms on the Cambodian Stock Exchange, has blamed third-quarter revenue losses on garment-worker demonstrations in December and January. On November 21, GTI posted a 40 per cent decline in revenue to $10.9 million for the three-month period ending September 30. The poor third-quarter performance contributed to an 8 per cent fall in revenue over the first nine months of 2014. … However, while GTI’s revenues declined between July and September, profits reportedly increased 42 per cent to more than $2.4 million, according to the unaudited financial results. However, the statement also shows GTI paid just $700,000 in taxes over the first nine months of this year, 50 per cent less than the $1.4 million allegedly paid during the same period in 2013. …
Eddie Morton
http://www.phnompenhpost.com/business/grand-twins-revenue-plunges
