May 20, 2020 / 9:47 AM / 12 days ago

BRIEF-Japan Foods Sees FY20 Net Profit After Tax To Be Lower

May 20 (Reuters) - Japan Foods Holding Ltd:

* SEES COVID-19 MEASURES TO ADVERSELY IMPACT FINANCIAL PERFORMANCE WITH REDUCED REVENUE IN APRIL & MAY

* SEES NET PROFIT AFTER TAX IN FY2020 TO BE LOWER THAN THAT IN FY2019

* EFFECTS OF COVID-19 WILL DAMPEN GROUP’S PROSPECTS & CURTAIL GROWTH FOR REMAINING PART OF CURRENT FY ENDING 31 MARCH 2021

* AS AT THIS ANNOUNCEMENT, 30 OF GROUP’S 59 RESTAURANTS RESUMED OPERATIONS TO PROVIDE TAKEAWAYS AND DELIVERIES

* STORE OPENINGS IN JAPAN AND COMMENCEMENT OF BUSINESS IS EXPECTED TO BE DELAYED

* EXPECTS GROUP’S REVENUE IN FY2020 TO BE COMPARABLE TO THAT ACHIEVED IN LAST FY ENDED 31 MARCH 2019 Source text for Eikon: Further company coverage:

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