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Business in Russia to be negatively impacted in the short term: JB Foods

Khairani Afifi Noordin
Khairani Afifi Noordin3/16/2022 08:10 PM GMT+08  • 2 min read
Business in Russia to be negatively impacted in the short term: JB Foods
While it does not have any physical assets in Russia and Ukraine, both countries accounted for about 17% of its 2021 revenue.
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JB Foods expects its business in Russia to be negatively impacted in the short term due to various factors such as the massive devaluation of the Russian rouble as well as supply chain disruption.

In a business update, JB Foods said it is actively assessing the conflict situation in Russia and Ukraine and would continue to exercise caution as well as adopt remedial measures to mitigate its impact.

While JB Foods does not have any physical assets situated in Russia and Ukraine, both countries jointly accounted for about 17% of its 2021 revenue.

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