Despite COVID-19 disruptions, revenue declined only 5.1% yoy to S$543.8 million for 1H2020. Gross profit margin contracted from 13.3% for 1H2019 to 12.6% for 1H2020, due mainly to COVID-19 disruptions, partially offset by government subsidies granted and several cost control measures. Healthy operating cash flow generation of S$40.6 million for 1H2020 contributed to balance sheet strength as the Group remains in a strong net cash position of S$196.9 million. Group embarks on a holistic corporate transformation project to re-organize its management structure into two business units to sharpen competitive edge...
Source: ShareInvestor Express