Financial News
Written by: Kuang Yueting
2021-06-28 20:04
Last update date: 2021-06-28 20:04
Professional Travel (1235) announced its full-year results, and its loss narrowed to RMB 32.89 million. In fiscal year 2020, it lost RMB 45.311 million; basic loss per share was 6.5 cents; no final dividend was paid.
The revenue for the period was RMB 6.423 million, a year-on-year decrease of 97.8%.
The total sales proceeds from customers were 31.4 million yuan, a year-on-year decrease of 97%.
Travel Professional stated that the outbreak of the epidemic has had an unprecedented impact on business operations. Strict travel restrictions and quarantine measures have caused sales and revenue to drop sharply to historical lows. In order to save working capital and tide over the difficulties, the company has implemented a number of cost-cutting measures, including: Streamline the branch network, negotiate rent reductions with owners, reduce the number of employees, arrange unpaid leave, reduce pay, and encourage employees to take annual leave.
Professional Travel Service opened a "teSTORE" store in Wan Chai in January this year, selling all kinds of frozen food and groceries from all over the world.
The company expects that countries will not relax strict border control and quarantine measures in the short term. In order to overcome difficulties, the company will continue to implement a number of cost-saving measures and explore new business opportunities to broaden its revenue sources.
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