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January 30, 2002

USA: Corporate Apparel Giant Posts Q2 Earnings Rise

Leading US corporate apparel services firm G&K Services Inc on Tuesday said a 19 per cent rise in second quarter earnings rose was partly due to improved plant productivity and lower energy and merchandise costs. The Minneapolis-based firm, which makes, rents and sells uniforms for over 100,000 customers, reported net income of $9.5 million, or 46 cents a share, in the quarter ended December 29, 2001, compared with $8m, or 39 cents a share in 2000.

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