Fu Yu Corporation reported a 46.3% y-o-y increase in its earnings to $7.4 million for the 1H20 ended June on August 14, mainly driven by higher other income and foreign exchange gain.

Group revenue for the half-year period declined 26% y-o-y to $71.6 million due to decreased sales from the group’s manufacturing operations in Singapore, Malaysia and China. 

The slowdown in sales was attributed mainly to business disruptions as a result of the Covid-19-induced government measures, as well as weaker end-user demand due to a downturn in the global economy. 

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