Koufu profit slumps by 65.4% in 2020

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No The food and beverage giant's income fell as the pandemic forced people to eat at home. For the full year of 2020, food and beverage company Koufu reported a net profit of $9.6m, a 65.4% drop from the $27.84m recorded in the previous year. In the last half of 2020, profits fell to $7.41m from $13.69m for the same period in 2019. Koufu Executive Chairman and CEO Pang Lim attributed this loss to the COVID-19 pandemic. read more