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Far East Orchard records net loss of $0.7 mil in 1Q21 due to lower revenue from the hospitality business

Felicia Tan
Felicia Tan5/6/2021 9:4 PM GMT+08  • 3 min read
Far East Orchard records net loss of $0.7 mil in 1Q21 due to lower revenue from the hospitality business
The group reported a total loss of $3.2 million, deepening from the total loss of $2.6 million in the 1QFY2020.
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Far East Orchard has reported a net loss of $0.7 million for the 1QFY2021 ended March, from the earnings of $0.9 million in the 1QFY2020.

The net loss is mainly due to the lower revenue from the hospitality business.

Revenue for the 1QFY2021 fell 29% y-o-y to $27.6 million, while the group reported an operating loss of $1.4 million from $12 million from the year before.

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