As expected, the Covid-19 outbreak had affected Yongmao’s business. Due to lockdown measures, the company faced delays in deliveries.
SINGAPORE (July 17): Crane provider Yongmao Holdings has reported revenue of RMB962.4 million for the year ended March 31 2020, up 8.7% from RMB885.4 million recorded in the preceding year.
However, due to higher overheads, the company’s gross margin for the year dropped to 25.9% from 27%. As a result, earnings dropped by 2.8% y-o-y to RM59.7 million.
