Nutryfarm International has succeeded in narrowing its losses to HK$0.96 million (S$0.16 million) for the three months ending on December 31, 2020, from a net loss of HK$3.14 million a year ago. Revenue for Q1 FY21 rose 12 per cent year-on-year to HK$14.69 million, with revenue generated solely by its subsidiary NFC.
Loss per share worked out to 0.91 HK cent, compared to a loss per share of 3.26 HK cents a year ago. Administrative expenses also eased: by 37 per cent to HK$3.49 million during the quarter under review due to reduced staff costs and travelling expenses, which also helped to curb losses.
Businesstimes.com.sg reports that, in an update, NutryFarm said that economic activities have slowly restarted in China, and that NFC is looking at ways to turn the business around.