June 16, 2020 / 7:39 AM / a month ago

Caterer Do & Co posts first annual loss due to coronavirus crisis

VIENNA, June 16 (Reuters) - Austrian catering group Do & Co reported its first annual loss on Tuesday due to slumping demand amid the coronavirus pandemic and start-up costs related to its British Airways and Iberia services.

Do & Co, which is specialised in airline and event catering and also operates restaurants, said it had initiated a group-wide restructuring in response to the coronavirus crisis and decided not to propose a dividend for its 2019/20 business year.

The group posted a net loss of 15.6 million euros ($17.7 million) on 10% higher revenue of 935 million euros for the year per end-March.

$1 = 0.8827 euros Reporting by Kirsti Knolle Editing by Michelle Martin

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