May 14, 2020 / 6:53 AM / 23 days ago

Grab says overall revenue down since coronavirus outbreak

SINGAPORE, May 14 (Reuters) - Overall revenues of Southeast Asian firm Grab have dropped since the coronavirus pandemic began, dragged down by the core ride-hailing business, the company’s co-founder said on Thursday.

Tan Hooi Ling said the Softbank-backed private firm had seen an uptick in its food delivery business but its total revenue was “lower than it used to be pre-COVID”, referring to the respiratory disease caused by the virus.

The firm was preparing for “a potentially long winter”, and taking measures to be more efficient and conserve cash, Tan added. (Editing by Clarence Fernandez)

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