GKE Corporation has reported earnings of $6.5 million for the 1HFY2021 ended November, almost three times the earnings of $1.8 million a year ago.

The significant increase in net profit was mainly attributable to the optimal occupancy of GKE Corp’s warehouses at higher rental rates in Singapore, as well as higher volume of ready-mixed concrete (RMC) that was produced and sold at higher selling prices in Wuzhou, China.

Payouts from government support schemes also contributed to the higher earnings, says GKE Corp.


To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook