Stamford Tyres announces 6.7% sales growth
Stamford Tyres Corporation Limited recently announced its financials for the year ended 30 April 2012. They reveal that the company experienced a 6.7 per cent increase in sales to S$364.1 million growth across all key markets.
One of South East Asia’s largest independent tyre and wheel distributors, Stamford Tyres reported net profit of S$9.8 million, down from S$13.4 million in 2011. Based on the group’s latest performance, Stamford’s board recommended a dividend of 1.5 Singapore cents to shareholders which equates to a dividend payout ratio of 36.1 per cent.
Stamford Tyres President and CEO, Wee Kok Wah commented: “During our last financial year the Stamford Group further expanded its position in the South East Asian market through an increased distribution network and services including retail chains for both passenger and truck tyres and fleet management for the mining industry. For the future, Stamford will continue to build on its product mix and look towards expanding in new markets with good growth potential leading to yet another profitable year for Stamford Tyres.”
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