Wisynco Group is feeling the sting of COVID-19 with the latest quarterly profit and revenue going down with a projection for further depressed activity.

In its just-released financial results for the second quarter ended December 31, 2020, Wisynco highlighted that the business continues to suffer as a result of the pandemic with the recently announced added travel restrictions in the United States, United Kingdom and Canada expected to exacerbate the situation in the near term.

In their interim report to shareholders, company Chairman William Mahfood and Chief Executive Officer Andrew Mahfood stated that COVID-19 restriction measures continue to depress activity, specifically in areas such as tourism, bars and entertainment, restaurants and schools, which have been unable to return to normal. Given the added travel restrictions, it is expected that these channels will continue to be impacted in the near term.

http://www.jamaicaobserver.com/sunday-finance/covid-19-biting-wisynco-with-projection-for-further-depressed-activity-revenue-and-profit-suffered-because-of-the-pandemic_214130