HF Foods rises on quarterly revenue surge
16/05/2022 18:29
** Shares in food distributor HF Foods HFFG.O rise 2.2% to
$5.63 in afternoon trading
** HFFG says net revenue for the first quarter increased 75%
to $278.2 million, as overall foot traffic to dine-in business
for its restaurant clients has significantly recovered to above
pre-pandemic levels urn:newsml:reuters.com:*:nGNX7YCwNV
** Gross profit increased 74% to $51.3 million - HFFG
** HFFG also says it is unable to file its unaudited
financial results on form 10-Q due to "unresolved comments"
contained in a U.S. Securities Exchange Commission comment
letter relating to its 2019 merger with B&R Global
** Shares have lost a third of their value this year
(Reporting by Praveen Paramasivam)
((Praveen.Paramasivam@thomsonreuters.com;))