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Barramundi Group cuts H1 loss to S$5.2 million, sees bigger fish to fry in Brunei

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Megan Cheah

Megan Cheah

Published Wed, Aug 30, 2023 · 03:53 PM
    • The company has harvested all its barramundi in Singapore in June, due to outbreaks caused by the scale drop disease virus.
    • The company has harvested all its barramundi in Singapore in June, due to outbreaks caused by the scale drop disease virus. PHOTO: BARRAMUNDI GROUP

    BARRAMUNDI Group, the only operator of fish farms in Singapore’s southern waters, on Wednesday (Aug 30) narrowed its net loss for the first half year ended Jun 30 to S$5.2 million, from a loss of S$12.1 million in the corresponding year-ago period.

    This was attributed to “proactive cost management strategies and operational adjustments executed” in this period, the group said. This includes streamlining headcount and processes in Singapore and Brunei, reducing administrative expenses, as well as trimming executive salaries. 

    Loss per share came in at S$0.12959, based on a total shareholding of 40.4 million.

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