This was mainly due to weak sales in November and December 2024, despite a higher number of operating outlets
JAPAN Foods expects to report a loss for its nine months ended Dec 31, 2024, mainly due to lower revenue and higher selling and distribution expenses.
In a bourse filing on Friday (Jan 24), the company said revenue for the period was lower than the previous corresponding period in 2023, mainly due to weak sales in November and December 2024, despite a higher number of operating outlets.
Meanwhile, in line with the higher number of operating outlets, selling and distribution expenses were higher mainly due to increases in manpower costs, utilities expenses and depreciation charges.
The company noted that this is only a preliminary assessment; further details of its financial performance will be disclosed when it announces its business and financial update, it said.
Shares of Japan Foods ended flat at S$0.33 on Friday, before the announcement.
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