Caterer Do & Co swings to net loss in wake of pandemic
12/08/2020 08:40
VIENNA, Aug 12 (Reuters) - Austrian catering group Do & Co
DOCO.VI swung to a loss in its first quarter 2020/21 as
coronavirus related travel bans, event cancellations and
restaurant closures took its toll.
Do & Co, which is specialised in airline and event catering
and also operates restaurants, reported a net loss of 22.15
million euros ($26.00 million) in the April-June period after a
profit of 5.7 million the previous year.
Revenue dropped 87% to 32.5 million euros.
"In the coming quarters of the business years 2020/2021, the
net result will generally be strongly affected by the COVID-19
situation as well," the group said, adding that further
group-wide restructurings were indispensable.
($1 = 0.8521 euros)
(Reporting by Kirsti Knolle
Editing by Riham Alkousaa)
((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))