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Revenue rose 9.2% y-o-y to $60.1 million, mainly driven by contributions from GKE Corp’s RMC manufacturing facility in China and higher storage revenue in Singapore.
Earnings per share (EPS) rose to 0.84 cents per share on a fully diluted basis compared to 0.24 cents per share a year ago. No dividend has been declared for the period as the group has decided to conserve cash amid the current challenging business environment. “The coronavirus outbreak brought unprecedented challenges as well as opportunities. The disruptions to supply chains arising from the pandemic and political uncertainties gave the Group opportunities to diversify our customer base, particularly in the healthcare and medical supplies sector,” says GKE Corp’s CEO and executive director Neo Cheow Hui. “The Group’s strategic investments in infrastructural materials and services in China continues to register strong earnings growth on the back of China’s economic recovery. Our RMC manufacturing facility in Wuzhou City has completed the installation of a third production line, bringing our aggregate production capacity from 800,000m3 per annum to 1,200,000m3 per annum at end December 2020. The additional line was added to cope with the increasing demand for RMC required for the infrastructural and property development projects in Wuzhou City,” adds Neo. “We are appreciative of the patience and support from our stakeholders – employees, suppliers, customers, and shareholders over the years, and we are confident that our focus on warehousing and logistics in Singapore and infrastructural materials and services in China, will see us emerge stronger post-pandemic.” Shares in GKE Corp closed 0.4 cent lower or 2.9% down at 13.5 cents on Jan 13.