Stamford Tyres reports higher sales, profits for six months

Singapore -- Revenues at Stamford Tyre were up 32 percent in the six months to October 2005. The Singapore-based tyre retailer also reported pre-tax profit up by 92 percent and net profits up by 114 percent. Revenues in the period reached Sing$119.7 million (Euro 60.5 million), while pre-tax profit was Sing$8.8 million and net profit was Sing$6.5 million.

The company said it maintained its gross margins at 26.4 percent of sales.

Stamford generates a little more than 75 percent of sales from southeast Asia, and the company attributed its growth to stronger demand in the region, due to economic recovery there. In a presentation, Stamford said it saw organic growth from its major brands, including Falken, Dunlop, Continental and Toyo. it also saw a strong contribution from sales of its own-brand Sumo Firenza products.

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Website of Stamford Tyres