Food and beverage manufacturer and distributor Yeo Hiap Seng reported a loss of $6.7 million for 1H20 ended June. This is a stark comparison from its earnings of $14.6 million in 1H19.

The group attributed the loss to the impact of Covid-19 lockdowns in key markets around the world and the absence of one-off gains from the sales of properties recorded in the same period last year.  

Excluding the one-off gain of $14.1 million realised in 1H19 on asset disposals and fair value gains on financial assets, net loss from core operations would come up to $6.7 million in 1H20 compared with net profit of $0.5 million in 1H19.

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