Jumbo warns of rough seas ahead of financial results filing

The seafood restaurant operator tells investors to expect a net loss for the first half of 2021.

Jumbo Group Limited, which runs seafood restaurant brands Jumbo Seafood and Ng Ah Sio Bak Kut Teh, has issued a statement on its upcoming financial disclosure, expecting a net loss.

It noted that for the six-month period ending in March 31, the company has been suffering negative impacts from the COVID-19 pandemic.

There was a significant decline in revenue in Singapore, Jumbo's largest market, due to muted footfall at its restaurants. The positive performance of the Jumbo's businesses in China was not enough to make up for the losses in the Lion City.

Jumbo will disclose its financial results on or before May 14.