Thelloy Development (HKG:1546) forecasts it will swing to a net loss of up to HK$55 million in the fiscal year ended March 31 from a profit of HK$8.3 million a year ago, according to a Monday disclosure to the Hong Kong bourse.

The construction company attributed the foreseen loss to the recognition of a share of losses from joint ventures, lower overall gross profit from certain construction projects, and higher finance costs, among others, the filing said.

Thelloy plans to release fiscal 2025 results by the end of June.