Tee Intl: Strong FY2011 results out. Rev was up 62.7%yoy +21.9%hoh at $253.0m and net profit was up 52.2% yoy +49.5%hoh at $17.3m. Increase was attributed to increase in construction activities, with $215.4m from construction projects and $37.6m from real estate segment, as well as improved operational efficiency. Dividend declared of 1.8c (1.3 ordinary, 0.5 special). Co has outstanding orderbook of $235.3m for engineering segment and $23.6m for real estate, total of $258.9m.
Future sources of growth includes ongoing projects such as 1500 semi-d and terrace units in Brunei, a water treatment plant in Msia. New investments include its new stakes in Thailand’s wastewater co Global Env Tech and JV CMC Communications formed for telecommunications engrg industry.
Co is on strong uptrend, since end of June, up almost 20%.
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