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Qian Hu says it expects H1 loss on Covid-19 supply chain disruptions

MAINBOARD-LISTED integrated fish service provider Qian Hu Corporation expects to report a net loss for H1 2020, it said in a bourse filing on Monday. 

In its profit guidance, the group said it registered a decline in revenue for the six months ended June 30. It posted a 50.8 per cent increase in net profit for the same period a year ago.

The Covid-19 outbreak had caused "considerable" disruptions to the global supply chain that had affected its exports of ornamental and edible fish, and to a lesser extent, aquarium and pet accessories, it said.

"Notwithstanding the above, the board believes that the group's working capital position remains healthy," Qian Hu added.

The group will announce its half-year results after trading hours on Friday.

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Qian Hu shares ended last Thursday at S$0.13, down S$0.01 or 7.1 per cent.

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