SINGAPORE (Oct 12): GKE Corporation, the integrated warehousing and logistics solutions provider, swung to a net loss of $1.1 million in 1Q18 from $126,000 in 1Q17 on higher cost of sales and operating expenses, lower composite gross margin and loss from results of a joint venture.

Revenue for the three months ended August rose 53.1% to 17.4 million in 1Q18 mainly contributed by port operations and maritime logistics service provider, TNS Ocean Lines (S) and ready-mix concrete manufacturer, Wuzhou Xing Jian Readymix Co., as it ramped up production progressively over the past year.

The increase was, however, mitigated by a decline in storage and handling from the warehousing & logistics division amid intense competition in the financial period under review.

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