Stamford Tyres Attributable Profit Grows in First Half of the Year; Shares Surge 5%

MT Newswires08-08

Stamford Tyres (SGX:S29) booked an attributable profit to equity holders of SG$6.0 million in the first half of the year, compared with SG$4.2 million in the year-ago period, according to a filing with the Singapore Exchange on Thursday.

Earnings per share came in at SG$0.025 compared to SG$0.0175 in the comparable period.

The tyre manufacturer booked a revenue of SG$184.8 million compared with SG$188.3 million in the year-ago period, mainly due to higher contributions from retail chain operations, truck tire centers and export of wheels.

The board proposed a dividend of SG$0.015 per share for the year ended April 30.

Shares of the company surged nearly 5% in recent trading.

Price (SGD): S$0.22, Change: S$+0.01, Percent Change: +4.88%

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