Aztech issues profit warning for Q2, H1 2016

AZTECH Group has issued a profit warning for both the second quarter and for the half year ended June 30, 2016.

In a filing to the Singapore Exchange on Monday, the diversified electronics-based group said that it will record a loss for the two periods.

This is based on a preliminary review of the group's unaudited financial results.

The loss results from more impairment charges of its marine-related assets as weakness in the marine market and excess capacity drags on.

This resulted in "downward revision on valuation and fair value impairment assessment", it said.

Further details will be made available when Aztech announces its Q2 and H1 2016 financial results.