The Wisynco Group is reporting lower net profit for its third quarter which ended on March 31.
It amounted to $580 million down from $694 million during the same period last year. However, revenues for the quarter were up 23.5% at $8.1 billion.
Wisynco says while March began with positive performance, the latter part of the month was impacted by the coronavirus.
Although revenues in April were lower than original targets, they were better than anticipated at the beginning of the month.
Wisynco is expecting an uptick in demand for some of its beverages this month and June which should increase the gross margin.
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