TEE International Limited announced unaudited group earnings results for the second quarter and six months ended Nov. 30, 2013. For the quarter, the company reported revenue of SGD 50,083,000 against SGD 43,972,000 a year ago. Profit before tax was SGD 2,208,000 against SGD 3,313,000 a year ago. Profit attributable to owners of the company was SGD 1,608,000 against SGD 2,473,000 a year ago. Diluted earnings per share were 0.34 cents against 0.60 cents a year ago. Net cash used in operating activities was SGD 17,003,000 against SGD 47,003,000 a year ago. Purchase of property, plant and equipment was SGD 460,000 against SGD 240,000 a year ago.

For the six months, the company reported revenue of SGD 118,899,000 against SGD 74,653,000 a year ago. Profit before tax was SGD 3,825,000 against SGD 6,653,000 a year ago. Profit attributable to owners of the company was SGD 18,741,000 against SGD 49,598,000 a year ago. Diluted earnings per share were 0.54 cents against 1.32 cents a year ago. Net cash used in operating activities was SGD 18,741,000 against SGD 49,598,000 a year ago. Purchase of property, plant and equipment was SGD 10,042,000 against SGD 2,164,000 a year ago. The increase in revenue was mainly due to revenue recognised from on-going and completed engineering and property development projects at 91 Marshall and The Peak @ Cairnhill I. The cost of sales was higher mainly due to higher cost incurred from on-going overseas engineering projects.