FDB Holdings (HKG:1826) expects to post a net loss of about HK$3 million to HK$7 million for the first half, compared with a net profit of HK$5.3 million a year earlier, according to a Tuesday Hong Kong bourse filing.

Shares of the company dropped over 9% in afternoon trade Wednedsay.

The company attributed the turnaround to a reduction in gross profit margin caused by higher contracting and consultancy-related expenses, which weighed on profitability.

The interim results are slated for release by the end of August.