Food Empire announced in its business update on Nov 11 that its 3QFY2020 net profit after tax has fallen some 19.5% to US$6.3 million ($8.5 million) from US$7.8 million a year ago.

Year to date, 9MFY2020 profit after tax was 6.6% lower y-o-y at US$19.5 million.

For the third quarter ended September, revenue declined by 8.5% to US$70.3 million from US$76.8 million a year ago, bringing gross profit to US$26.5 million, 13.1% lower than the previous year.

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