Jumbo’s full-year loss widens to $11.8m amid Covid-19 curbs

jumbos full year loss widens to 11 8m amid covid 19 curbs

Sumary of Jumbo’s full-year loss widens to $11.8m amid Covid-19 curbs:

  • This was mainly owing to the challenging operating environment amid Covid-19 restrictions, particularly in Singapore, Jumbo’s biggest market, said the group in a bourse filing on Wednesday.
  • Jumbo noted that for financial year 2020 it still had pre-Covid-19 revenue and profitability to mitigate its financial performance.
  • As the group continued to incur losses owing to the challenging operating environment, Jumbo said it was conserving liquidity to support working capital requirements, as well as carefully assessing growth investments and developments.
  • Group chief executive and executive director Ang Kiam Meng noted that Jumbo is “hardly out of the woods yet” from the Covid-19 pandemic.

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