GKE Corp more than triples its earnings to $6.5 mil in 1HFY2021 on improved income contribution

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.

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