Brief: Jb Foods Ltd Updates On Group's Business In Russia And Ukraine

JB Foods

16/03/2022 10:32

March 16 (Reuters) - JB Foods Ltd  JBFO.SI :
    * UPDATE ON GROUP'S BUSINESS IN RUSSIA AND UKRAINE
    * DOES NOT HAVE ANY PHYSICAL ASSETS SITUATED IN BOTH RUSSIA
AND
UKRAINE
    * IN TERMS OF REVENUE CONTRIBUTIONS, BOTH COUNTRIES JOINTLY
ACCOUNTED FOR ABOUT 17% OF GROUP'S 2021 REVENUE
    * EXPOSURE RELATING TO OUTSTANDING RECEIVABLES IN UKRAINE
NOT
EXPECTED TO HAVE SIGNIFICANT IMPACT TO GROUP'S FINANCIAL
PERFORMANCE
    * FOR 2022, REVENUE CONTRIBUTION FROM RUSSIA AND UKRAINE
EXPECTED
TO BE ABOUT 10% OF GROUP
    * EXPECTS BUSINESS IN RUSSIA TO BE NEGATIVELY IMPACTED IN
SHORT
TERM DUE TO DEVALUATION OF RUSSIAN ROUBLES AND SUPPLY CHAIN
DISRUPTION FROM WAR
    * SANCTIONS ANNOUNCED BY SINGAPORE GOVERNMENT AGAINST RUSSIA
SHOULD NOT HAVE DIRECT FINANCIAL IMPACT ON GROUP
    * IN UKRAINE, HAS TEMPORARILY HALTED SALES RELATED
ACTIVITIES DUE
TO MASSIVE DAMAGE TO PUBLIC INFRASTRUCTURE

Source text for Eikon:  ID:nSN6C2RqS 
Further company coverage:  JBFO.SI