No Signboard Holdings likely to post Q3 net loss, board warns
CATALIST-LISTED seafood restaurant operator No Signboard Holdings will likely extend its losses into its third quarter to June 30, the board warned on Wednesday.
The group - which had rung up losses of S$337,500 in the three months prior - "is expected to report a net loss... resulting mainly from lower revenue coupled with higher operating costs", the board said.
Its guidance is based on a preliminary assessment of results that could still be reviewed by the audit committee. The finalised financial statements are slated for release by Aug 14.
"In the meantime, shareholders of the company are advised to exercise caution when dealing in the shares of the company," the board added.
The latest profit warning adds to woes at No Signboard, which made its bourse debut in November 2017 but is now trading far below its initial S$0.28 offer price.
Its chief executive officer, Lim Yong Sim, was also arrested in end-April over a share buyback exercise that saw shares bought at a price higher than allowed, and during a blackout period. He was not charged with any offence at the time.
No Signboard added 0.1 Singapore cent or 1.64 per cent to 6.2 Singapore cents on Wednesday before the guidance was released.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
SocGen Q1 profit slumps less than expected as investment bank surprises
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct