Express Catering Year End Profits Down 58%. May 2020 (YE) Results Out

Express Catering Ltd (ECL) has released their May 2020 (YE) numbers. Here are the highlights.

All figures are in US$

Year To Date (2020YE)

  • Revenue of $14.00m. Declining by -19.14% or -3.32m YTD YoY.
  • Net Income (Profit) was $1.56m. Down by -58.08% or -2.17m YTD YoY.
    Apart from from the reduction on the top-line due to Covid, the company also faced increased Finance costs (US$950k interest on leases due to adoption of a new accounting standard)
  • Cash Flow From Operating Activities totaled $2.94m. Decreasing by -61.15% or -4.64m YTD YoY.
    Fell due to the drastic reduction in profits ($2.2m), and a $2m increase in amounts owing to related companies

This is just a summary. For more charts, ratios and other details visit ECL’s page here

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