Food Empire Sees No Going Concern Issues from Russia-Ukraine Conflict

MT Newswires · {{timeTz}}

11:58 PM EST, 03/02/2022 (MT Newswires) -- Food Empire (SGX:F03) does not foresee any going concern issues arising from the ongoing Russia-Ukraine conflict.

The food and beverage company said it has temporarily suspended operations and sales activities in Ukraine, which will be resumed when the conditions improve, according to a Wednesday filing.

However, the company does not expect the situation to affect the food and beverages industry to a great extent, barring a "massive or permanent change in demographics."

Food Empire added that it is closely monitoring the situation in Russia and Ukraine, the group's key markets, and will "roll out measures to mitigate any fallout in affected markets."

The company's shares were up 2% in recent trade.

Price (SGD): S$0.48, Change: S$+0.01, Percent Change: +2.13%

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