In its second quarter, battery manufacturer GP Batteries achieved a turnover of 236.8 m S$ (approximately 139 m US$) with a net profit of 4.7 M S$ (approximately 2.8 m US$). The turnover rose by 7.3% in comparison to the previous year but the net profit was reduced by 50%. The increase in turnover resulted from increased demand for rechargeable NiMH batteries and cylindrical alkaline batteries.