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GKE Corp posts Q2 loss of S$0.6m

Friday, January 13, 2017 - 21:05

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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.

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.

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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.

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