TEE International Limited reported unaudited group earnings results for the second quarter and six months ended November 30, 2017. For the quarter, the company reported revenue of SGD 44,899,000 against SGD 64,716,000 a year ago. Loss before tax was SGD 7,319,000 against profit of SGD 1,769,000 a year ago. Loss attributable to owners of the company was SGD 5,217,000 against profit of SGD 394,000 a year ago. Diluted loss per share was 1.04 cents against diluted earnings per share of 0.08 cents a year ago. Net cash from in operating activities was SGD 3,496,000 against net cash used in operating activities was SGD 13,679,000 a year ago. Purchase of property, plant and equipment was SGD 29,000 against SGD 3,452,000 a year ago. Revenue decreased by SGD 19.8 million due mainly to lower progressive revenue from development properties and lower revenue from on-going engineering projects.

For the six months, the company reported revenue of SGD 115,027,000 against SGD 128,717,000 a year ago. Loss before tax was SGD 7,903,000 against profit of SGD 2,854,000 a year ago. Loss attributable to owners of the company was SGD 6,135,000 against profit of SGD 1,042,000 a year ago. Diluted loss per share was 1.22 cents against diluted earnings per share of 0.21 cents a year ago. Net cash from in operating activities was SGD 11,209,000 against net cash used in operating activities was SGD 27,227,000 a year ago. Purchase of property, plant and equipment was SGD 62,000 against SGD 5,515,000 a year ago.

For the quarter, the company reported impairment loss on completed properties and land held for sale was SGD 1,799,000.