Japan Foods Holdings suffers $0.5m net loss in FY24

The company attributed the net loss to higher expenses.

Japan Foods Holdings incurred a net loss of $0.5m in FY24, a reversal from the $4.1m net profit recorded in FY23.

The company reported a net loss despite a 10.0% YoY higher revenue of $86.4m.

In its latest financial statement, the company said higher expenses, primarily due to expanded operations and a one-off impairment loss, impacted its net profit in FY24.

Due to its net loss, the company also reported a loss per share of $0.03 in FY24.

Despite its net loss, the board proposed a final dividend of $0.02 per ordinary share.

Together with the interim dividend of $0.03 paid in December 2023, the total dividend for FY24 was $0.05.