[ET Net News Agency, 5 August 2021] Guan Chao Holdings Limited (01872) said for the six
months ended 30 June 2021, the group expects to record a profit attributable to equity
holders of the company of approximately S$6 million, as compared to approximately S$0.2
million for the corresponding period in 2020.
Such increase was mainly attributable to the increase in revenue as a result of
increased demand from customers. This was mainly driven by the recovery from the adverse
impact brought by COVID-19 in 2021 as the pandemic remained under control in Singapore,
compared to the closure of the group's showrooms for more than two months in the first
half of 2020 due to the safe distancing measures implemented by the Ministry of Health of
Singapore to curb further spread of COVID-19. (RC)