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Jumbo reports net loss for FY2021

Goola Warden
Goola Warden11/24/2021 11:17 PM GMT+08  • 1 min read
Jumbo reports net loss for FY2021
Jumbo Group reports net loss in FY2021.
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Jumbo Group announced a net loss of $11.8 million in FY2021, for the 12 months to Sept 30. The poor performance was blamed on Covid. Revenue declined by 16.2% or $15.8 million, from $97.6 million inFY202 to to $81.8 million in FY2021.

See: Jumbo Group leverages SAP to support long-term growth

After adjusting for non-cash items, the company registered a positive Ebitda of $5.7 million for FY2021, albet lower than the $8.0 million recorded for FY2020. No dividends will be paid for FY2021. Liquidity will be conserved to support working capital requirements and carefully assessed growth investments and developments, Jumbo says in a statement.. Moving into FY2022, Covid continues to impose uncertainty on Jumbo's operating environment.

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