Tye Soon Limited Announces Turnover Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for 2015
For the third quarter, the company's turnover arising from overseas operations was increased by 3.6%. Third quarter figures were negatively affected to a large extent by two factors: the relatively sharp depreciation of the MYR and AUD against the SGD as well as the slower than expected recovery in the business in Australia. The group's operational profit remains positive but foreign exchange losses have been a factor as foreign exchange rates relative to the SGD have been volatile.
The group's operational profit for the 2015 is expected to be lower than the level achieved last year.