Analogue Holdings (HKG:1977) foresees a 44% to 48% fall in its consolidated attributable profit to between HK$130 million and HK$140 million in 2024, from HK$251.5 million in 2023, according to a Friday filing with the Hong Kong Stock Exchange.

The lower forecast by the engineering services company is attributable to an expected credit loss of between HK$80 million and HK$89 million.

The provision should help account for risk with the recovery of receivables following news of unpaid wages and reorganizations in the construction sector, the filing said.