2020 Annual Report

Annual Report2020
Written By Feng Han

EXECUTIVE CHAIRMAN’S REPORT

• Operating loss from continuing operations before depreciation, amortisation & finance charges improved to $35k compared to prior year loss of $2.4 million.

• Cash flow from continuing operations was $193k positive after deducting interest of $1,414K compared to prior year loss of ($2,404k) after deducting interest of $289k as restructuring initiatives are implemented and the results are being realised.

• Group revenue from continuing activities increased 4.3% to $4.2 million.

• The Covid-19 impact in all markets applied from mid-March with the revenue declines supported by various levels of government support packages that mitigated the full impact.

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Feng Han
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2020 Preliminary Report