Soo Kee posts 72% decline in earnings for 2Q

SINGAPORE (Aug 10): Soo Kee Group has reported a 72% decline in earnings to $381,000 for 2Q16, compare with earnings of $1.8 million in 2Q15.

For the quarter to June, revenue rose 16.9% to $35.6 million, on higher sales of its jewellery products and mementos. For the half year period, earnings fell 34.9% to $3.3 million, as revenue rose 10.6% to $72.3 million.

The group also recorded a $0.3 million increase in other gain from government grants and higher rental income during the quarter.

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