Ttech Reports Reduction in Profit

• Net profit at tTech Limited edged down 10.1% ($2.78Mn) for the year ended December 31, 2019, despite a 19.9% (or $56.44Mn) increase in revenues. Net profit declined to $24.76Mn (EPS: 23¢) from $27.54Mn (EPS: 26¢) in the corresponding period of 2018.
• The main contributor to this performance was a 14.0% (or $27.76Mn) increase in total expenses as well as a 100% ($2.47Mn) increase in finance cost for the period.
• The stock has fallen 33.7% since the start of the calendar year. tTech closed Monday’s trading session at $4.32 and currently trades at a P/E of 18.8x earnings which is below the Junior Market Other Average of 19.4x.

(Source: Ttech Financials)