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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.