GTI posts 390% surge in net profit last year

Taiwanese-owned garment manufacturer Grand Twins International (GTI) posted a 44 percent surge in revenue and a massive 390 percent in net profit, according to its annual report released on the Cambodia Securities Exchange yesterday.

Total revenue reached $82 million, an increase of $22 million compared to 2015, while net profit soared to $5.2 million, an increase of nearly $4 million compared to the previous year.

In 2015, GTI’s quarterly reports showed huge swings in revenue, with high profits and deep losses, leaving the company after rectifying an inadvertent accounting error - with only a little over a $1 million in net profit.