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BRIEF-Frasers Property Says Operating Environment For To Remain Challenging This Year

Published 08/04/2020, 02:45 pm
Updated 08/04/2020, 02:48 pm
© Reuters.
FRPL
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April 8 (Reuters) - Frasers Property Ltd FRPL.SI :

* OPERATING ENVIRONMENT FOR GROUP'S VARIOUS BUSINESSES WILL REMAIN CHALLENGING THIS YEAR

* ACROSS CITIES CO SEES AN IMPACT TO OVERALL HOSPITALITY BUSINESS DUE TO COVID19

* "FACING AN UNCERTAIN ENVIRONMENT THAT IMPACTS OUR BUSINESS PERFORMANCE AND INEVITABLY, REVENUE AND EARNINGS"

* COST CONTAINMENT MEASURES IMPLEMENTED INCLUDING TEMPORARY CLOSURE OF ROOMS & AMENITIES BY FLOORS, UNPAID LEAVE FOR STAFF

* TEMPORARILY CLOSED ALL FOOD AND BEVERAGE OUTLETS AT HOTELS IN SYDNEY AND MELBOURNE

* WILL PROGRESSIVELY CLOSE HOSPITALITY PROPERTIES IN UK ON A TEMPORARY BASIS

* COST CONTAINMENT MEASURES INCLUDE SHORTENED WORK HOURS & REVIEW OF ALL OPERATING CONTRACTS

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