SINGAPORE (Dec 10): TTJ Holdings has reported a 10% fall in first quarter earnings to $4 million from $4.9 million a year ago.

Revenue fell 23% to $24.7 million for 1Q15 ended Oct from $32.1 million in 1Q14. The decrease was mainly due to lower sales recorded in the structural steel business but offset by the increase in revenue from the dormitory business.

Despite the lower revenue, the group’s profitability improved with gross profit margin rising to 30% in 1Q15 from 25.3% in 1Q14.

TTJ says the improvement was mainly due to an increase in margins derived from the projects secured and executed during the reporting period.

As at Dec 10, the group’s projects order book stands at $99 million. It expects to substantially complete them between FY2015 and FY2016.

To date, TTJ says it continues to experience a healthy level of enquiries for a mix of public and private sector projects. Going forward, the group will continue to monitor its costs closely and enhance productivity to remain competitive.

TTJ closed flat at 35.5 cents today.