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Ipco expects net loss for H1 FY18 due to translation effects
IPCO International is expecting to report a net loss for its first half year ended Oct 31, 2017 (H1 FY18) - due mainly to the translation effect on the operations of the group's foreign currency-denominated subsidiaries.
The mainboard-listed construction and turnkey project company said in a filing to the Singapore Exchange on Tuesday that the forecast is based on a preliminary review of the draft unaudited consolidated financial results.
Translation effects refer to effects of changes in exchange rates on the consolidated accounts of a company that has businesses that report in different currencies.
Ipco added in the filing that it is in the process of preparing and finalising its H1 FY18 financial results, which will be released on or before Dec 14, 2017.