Shun Wo Group (HKG:1591) said it expects a net loss of between HK$15 million and HK$18 million for the six months ended Sept. 30, wider than the HK$5 million loss reported a year prior, according to a Thursday Hong Kong bourse filing.

The foundation contractor attributed the forecast to reduced profit margins, lower bank deposit interest income and project management fee income, higher impairment losses on financial and contract assets, and a rise in administrative and other operating expenses.