Baker Tech warns of Q1 loss

BAKER Technology expects to report a first-quarter net loss for the three months ended March 31, the oil and gas contractor announced on Monday after the market closed.

The company expects to announce its results no later than May 13.

For the fourth quarter ended December 2015, Baker Tech posted a 99 per cent drop in net profit, to S$54,000, compared to a year-ago profit of S$6.5 million.

Baker Tech shares closed at 17.8 Singapore cents on Monday, down by 1.7 per cent or 0.3 Singapore cent.