GKE Corp posts Q2 loss of S$0.6m

GKE Corp made a S$558,000 loss in the second quarter from a profit of S$367,000 a year ago owing to operational losses in the ready-mix concrete manufacturing plant and lower profit contribution from warehousing and logistics division.

Significantly lower charter rates for the liquefied gas carrier vessel on the back of a global economic slowdown which resulted in a loss of S$42,000 from its share of results of joint venture in the quarter also led to the losses.

The logistics firm posted a 45.3 per cent jump in revenue for the three months to November to S$11.94 million from S$8.2 million a year ago led by higher revenue contributions from chemical warehouse operator Marquis Services and ready-mix concrete maker Wuzhou Xing Jian Readymix Co.

GKE Corp made a loss per share of 0.09 Singapore cents in the quarter versus an earnings per share of 0.06 Singapore cents a year ago.

No dividend was declared for the period, the same as the previous year.

The counter rose 0.5 Singapore cent or 5.4 per cent to finish at 9.7 Singapore cents on Friday.