• Q1 earnings per share up 59% to US$0.35
  • Q1 revenue down 3.7% to $200.4m
  • Impacted by economic conditions

Branded identity apparel programme company G&K Services increased its first quarter earnings despite a decline in revenues.

The company blamed “continued difficult economic conditions” for the 3.7% fall in revenues in the three-month period.

“The execution of our game plan continues to improve our financial results,” said Douglas Milroy, G&K CEO.

“We extended our positive trend of expanding operating margins, increased our productivity per employee and bettered our rental organic growth rate.”