Stamford posts 80% growth for the year
Singapore-based Stamford Tyres Corp. Ltd.'s net profit for its fiscal year ended April 30 totaled $15.6 million (Singapore currency), an 80.8% increase over previous year numbers.
"Major contributions to revenue growth came from continued organic growth in the distribution of our major brands -- Falken, Dunlop and Continental -- as well as increased revenue from our proprietary brands: Sumo Firenza, Sumo Tire and SSW wheels," say Stamford officials.
"We also have benefited from the strong growth momentum in Southeast Asia and our aggressive sales and marketing efforts to promote our proprietary brands in international markets."
"Our focus on improving the product mix of our major brands, increasing sales of high performance tires and wheels, and our continuoys effort to improve income through retail chain and commercial truck/earthmover tires with management services all have contributed to our profit growth," says Stamford Tyres President Wee Kok Wah.