SunMoon has reported a loss of S$1,85 million (EUR1,2 million) over the third quarter of the financial year. This loss is evident from the figures released by the company. This loss was caused by the challenging, competitive market in Singapore, where SunMoon is based.
The ever-increasing losses are due to the low seasonal prices received for some key products in the company's range. In the previous year, SunMoon closed the third quarter with S$0,89 million in the red. The Chinese Yuan is also weakening which, in turn, affects this company's results.
SunMoon trades in fresh and processed fruit in countries such as China, India, Saudi Arabia, and the US. The company's sales figures do show strong growth. SunMoon reported a turnover of S$20,3 million or EUR13,3 million.
This figure is almost double that of the previous book year's third quarter revenue results. Then, the company's turnover was reported to be S$ 10,8 million. This converts to EUR7 million.