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Meta Health to report net loss for 1HFY2022

Felicia Tan
Felicia Tan7/18/2022 08:01 PM GMT+08  • 1 min read
Meta Health to report net loss for 1HFY2022
Meta Health, which was formerly known as Metal Component Engineering, made the transition from a metal engineering company to digital healthcare. Photo: Pexels
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Meta Health is expecting to report a net loss for the 1HFY2022 ended June.

The announcement on July 18 came after the group took a preliminary review of its unaudited consolidated financial results for the period.

The net loss was mainly due to a decrease in sales revenue on the back of the Covid-19-induced lockdown in Shanghai for close to two months.

The shortage of integrated circuit (IC) chips also affected customers’ demands.

In addition, the uncertainty in Europe due to the Russo-Ukraine war as well as the ongoing Sino-US trade war contributed to the lower sales revenue, says the group.

The group will announce its results on or before Aug 14.

See also: Chip Eng Seng says it expects to report a net loss for 2HFY2022 in profit guidance

Shares in Meta Health closed 0.2 cent lower or 6.45% down at 2.9 cents on July 18.

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