Amala Foods PLC - Jersey-based food technology firm formerly known as BigDish - Reports a narrowed pretax loss of GBP998,368 for the year ended March 31, from GBP1.5 million the year before. This is due to a loss from continuing operations that decreased to GBP863,276 from GBP1.5 million. Notes it discontinued its operations in Hong Kong, Indonesia and the Philippines. Reports no sales income for 2021 but generated GBP22,204 in the prior year. Attributes general loss to the disruption the pandemic caused in the hospitality sector.
Says it is currently monitoring and evaluating potential opportunities in other sectors. Adds it started a joint venture with a plant-based foods business based in South-East Asia because plant-based food is a fast growing sector. Plans to install a technology platform as digital distribution channels will enable the it to reach more customers.
Current stock price: 0.87 pence; suspended
Year-to-date change: down 5.4%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Amala Foods Plc (DISH)