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Jumbo Group suffers 71.5% earnings drop

The Edge Singapore
The Edge Singapore5/14/2020 09:58 PM GMT+08  • 1 min read
Jumbo Group suffers 71.5% earnings drop
CEO Ang: The last few months were the most challenging periods in Jumbo's 33-year history
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SINGAPORE (May 14): The Covid-19 outbreak has caused restaurant operator Jumbo Group to suffer a 71.5% y-o-y drop in earnings to $2.1 million for its 1HFY20 ended March 31. Revenue in the same period was down 13.1% y-o-y to $66.7 million.

“The last few months have proved to be the most challenging periods for Jumbo since the group was established 33 years ago,” says group CEO and executive director Ang Kiam Meng.

Ten out of its 16 outlets are temporarily closed. The remaining six outlets are getting by with takeaways and delivers.

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