SunMoon's losses persist in FY20

SUNMOON Food Company on Tuesday posted a net loss to the tune of S$4.3 million for its fiscal year ended March 31, similar to net losses a year ago.

This was on the back of revenue falling 75 per cent to S$18.4 million, from S$72.6 million a year ago, due to business restructuring during the year and its business being affected by Covid-19.

Loss per share was 0.57 cent for the year, compared to a loss per share of 0.81 cent a year ago.

The company did not declare any dividend for FY20 as the group was loss-making, it said.

"The Covid-19 outbreak has resulted in significant disruption to all aspects of the group's operations, including its supply chain as well as distribution. Currently, we have no visibility on when things would return to normal.

"During this difficult time, we will continue to control our costs and streamline our supply-chain management and expand the scope of the fulfillment of various types of fresh produce within the agri-product segment," it said.