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Double whammy slashes Penguin International's 1H earnings in half

Samantha Chiew
Samantha Chiew8/6/2020 7:6 PM GMT+08  • 2 min read
Double whammy slashes Penguin International's 1H earnings in half
Double whammy slashes Penguin International 1H earnings in half
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Penguin International saw its 1H20 earnings slashed by half to $3.9 million from $8.4 million in 1H19, as it was negatively affected by the Covid-19 pandemic and weak oil prices.

Revenue for the period dipped 26.2% to $50.1 million from $67.9 million a year ago

As cost of sales dropped 23.7% y-oy- to $37.5 million, gross profit for the six months ended June came in at $12.6 million, 32.9% lower than $18.8 million last year.

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