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SGX-listed firms GMG and EuroSports warn of losses
TWO Singapore-listed companies on Monday warned ahead of their earnings announcements that they would be making losses.
Singapore-based natural rubber producer GMG Global said its expected loss in Q3 FY2014 is due to the lower average selling price of natural rubber in the third quarter.
Ultra-luxury and luxury car distributor EuroSports Global also said that based on its preliminary assessment, it expects to report a loss for its half year ended Sept 30, 2014.
This is mainly due to a decrease in the sales of automobiles as compared to the corresponding period last year.
"The Lamborghini Gallardo has reached the end of its life cycle and the group has launched, as its replacement, the new Lamborghini Huracan in the month of September 2014," it said.
GMG Global will disclose its Q3 financial results on or before Nov 14, while EuroSports Global would only say it would disclose its half-year results "in due course".