“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, noting that the circuit breaker measure due to the Covid-19 pandemic has caused the business environment to be very challenging.
SINGAPORE (May 18): Analysts are losing their appetite for Jumbo as this stock has lost its flavour.
On May 14, Jumbo also released its 1H20 results, which saw earnings fall some 71.5% to $2.1 million from $7.4 million in 1H19. Revenue in the same period was down 13.1% y-o-y to $66.7 million.
