TT International Narrows FY2025 Loss to S$3.6 Million Amid Revenue Decline
Summary:
-
Revenue Decline: TT International reported a 22.1% year-on-year decrease in revenue for the fiscal year ended 31 March 2025, totaling S$20.07 million, down from S$25.75 million in FY2024.
-
Net Loss Reduction: The company narrowed its net loss to S$3.61 million in FY2025, a significant improvement from the S$11.07 million loss reported in the previous year.
-
Gross Profit Margin: Gross profit margin decreased to 38.4% in FY2025 from 42.5% in FY2024, reflecting changes in sales mix and cost structures.
-
Operating Expenses: Total operating expenses declined by 29.7% to S$6.55 million, attributed to cost-cutting measures and operational efficiencies.
-
Other Operating Income: Other operating income increased by 48.0% to S$2.29 million, primarily due to event income from a subsidiary and a one-off non-cash gain from the deconsolidation of Teac Australia.
-
Finance Costs: Finance expenses decreased by 24.3% to S$330,000, mainly due to reduced interest expenses on lease liabilities.
-
Comprehensive Loss: Total comprehensive loss for the year was S$2.91 million, a 73.3% improvement compared to the S$10.90 million loss in FY2024, aided by favorable foreign currency translation differences.