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TCM - Steady margin expansion continues - Earnings Flash

TCM’s H1 2018 revenue grew by 6.5% YoY while NPAT slightly dropped by 1.8% YoY. Top-line growth was driven by continued strong garment export sales to existing markets, while profits were impacted by a material increase in financial and tax expenses. Operating profit outpaced revenue thanks to solid gross margin expansion owing to an improved product mix.