Home Capital Results

SunMoon sinks deeper into the red as 3Q losses widened by 58% to $1.85 mil

Samantha Chiew
Samantha Chiew2/14/2019 07:18 AM GMT+08  • 1 min read
SunMoon sinks deeper into the red as 3Q losses widened by 58% to $1.85 mil
SINGAPORE (Feb 14): SunMoon Food Company announced that its 3Q19 losses have widened 58% to $1.85 million, compared to $1.29 million in 3Q18.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 14): SunMoon Food Company announced that its 3Q19 losses have widened 58% to $1.85 million, compared to $1.29 million in 3Q18.

This brings 9M19 losses to $3.35 million, compared to earnings of $1.08 million in 9M18.

During the quarter, revenue was 88% higher at $20.3 million from $10.8 million a year ago, mainly due to sales to Shanghai YiGuo E-Commence and its related companies. The sales to Yiguo constituted 70% of the group's revenue.

However, cost of sales saw a higher increase of 92% y-o-y to $20.8 million, bringing gross loss to $456,000 from $44,000 last year.

Other expenses more than doubled to $138,000 from $52,000 in the previous year.

On the outlook, the group’s operating environment remains challenging and competitive.

Hence, the group says that it will continue to focus on its value added fresh fruit products in China and South East Asia, and remain optimistic for an improved operational result.

Shares in SunMoon closed at 3.5 cents on Wednesday.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.