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Future Bright’s Macao turnover drops 82% in Q2 

Future Bright Holdings’ turnover in Macau dropped 82.1% year-on-year to HK$32.4 million in the second quarter of this year.

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Future Bright Holdings’ turnover in Macao dropped 82.1 per cent year-on-year to HK$32.4 million (US$4.18 million) in the second quarter of this year, the company headed by Macao lawmaker Andrew Chan Chak Mo has announced.

According to a statement to the Hong Kong Stock Exchange on Friday, Macao accounted for 47.6 per cent of the company’s second-quarter turnover.

Apart from Macao, Future Bright runs food and catering, food souvenir and property investment businesses in mainland China, Hong Kong and Taiwan. In the first quarter, food and catering businesses accounted for 91.4 per cent of its total turnover of HK$68 million.

The company’s gross operating loss amounted to HK$40.6 million in the April-June quarter.

Future Bright admitted in the statement that its operating environment has been “dire” since the outbreak of the COVID-19 pandemic as it has “critically and adversely” affected the retail sectors in the mainland, Macao and Hong Kong.

Macao confirmed its first COVID-19 case on 22 January.

In the first half of the year, the company recorded a loss attributable to its owners of HK$110.3 million, the statement pointed out.

The statement predicted a “considerable loss of revenue in the third quarter.”

Andrew Chan, the company’s managing director, is an indirectly-elected member of the Macao Legislative Assembly (AL) representing the business sector.

(The Macau Post Daily/Macau News)
PHOTO © IPIM

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