Koufu's H1 profits plunge 82% to S$2.54m on Covid-19 impact

Singapore

PROFITS for food and beverage company Koufu Group dived 82 per cent to S$2.54 million for the six months ended June 30, as the Covid-19 pandemic took a big bite out of its earnings when Singapore's circuit-breaker measures kicked in.

Revenue decreased 23.2 per cent to S$88.97 million from a year ago, again largely due to the impact of the Covid-19 outbreak, with lower contributions from both the outlet and mall-management segment and food-and-beverage (F&B) retail segment.