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Julibao Holdings(08527) released the results for the first three quarters of 2022, with a profit of S$12.624 million, a year-on-year increase of 34.74%; a net loss of S$1.502 million, a decrease of 29.08% year-on-year; a basic loss per share of 0.3 Singapore cents.
The significant increase in revenue was mainly due to the phasing out of COVID-19 measures from April 26, 2022, according to the announcement. Specifically, the cancellation of social gathering restrictions and safe distancing requirements will effectively increase the total capacity of the company’s restaurants and the customer flow of the mall, which will lead to a substantial growth in the company’s business.
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