SOCAM Development (HKG:0983) expects a net loss between HK$360 million and HK$370 million for 2024, wider than HK$155 million for 2023, a Friday bourse filing said.

The construction engineering company attributed the expected wider loss to the net effect of lower gross profits from construction projects, an increase in disposal loss on non-core property assets, and an increase in net finance costs and foreign exchange losses during the reporting year.