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SunMoon Food in the red in Q3
SUNMOON Food Company posted a loss of S$1.25 million for the third quarter ended Dec 31, down from a profit of S$5.3 million a year ago.
Revenue jumped to S$10.8 million from S$1.3 million previously, mainly due to the increase in sales to Shanghai YiGuo E-Commerce.
YiGuo E-Commerce sources various products globally, including fruit, vegetables, seafood, meat, poultry & eggs, pastries and beverages, and desserts.
Loss per share stood at 0.17 Singapore cent for the quarter, down from earnings per share of 1.42 cents a year ago. No dividend was declared for the quarter.
In its outlook, the group said that the operating environment remains challenging and competitive.
It added that it will step up its brand-building and marketing efforts in its existing and new markets for its fresh and processed fruit products. It will also focus on improving its overall sourcing of products from global markets and improving margins by dealing with higher value-added products, said the group.