YHS saw red in 1st half 2020 due to the pandemic

Not all food and beverage companies are spared from the pandemic, and one of them is Singapore’s domestic beverage giant, Yeo Hiap Seng (YHS) which recently posted a net loss of S$6.73 million (US$4.95 million) for the 1st half 2020.
YHS blames the pandemic for its poor performance as consumer spending and disruptions in operations and sales channels hurt its business.
Apart from its beverage division, YHS also operates food and beverage outlets which were directly hit by the government lockdown. In addition, sales also fell in most markets except in Greater China.
Nevertheless, we can expect a recovery for YHS in the 2nd half as countries including Singapore open up its economy from the lockdown and ease restrictions.