SINGAPORE (Aug 11): SunMoon Food Company posts a net loss of $0.5 million for the 1Q ended June, improving from a net loss of $0.9 million a year ago.
Revenue grew 42% to $6.2 million in 1Q17, from $4.3 million a year ago.
This was mainly due to higher sales to Shanghai YiGuo E-Commence Co., which accounted for 58.9% of total revenue in 1Q17.
As at end June, cash and cash equivalents stood at $1.9 million.
Looking ahead, SunMoon says it is stepping up its marketing and sales efforts for its range of processed fruit products in Singapore, China, and Indonesia, amid a challenging operating environment.
Shares of SunMoon Food closed 0.1 cent lower at 9.4 cents on Friday.
