BBR warns of 2018 loss

CONSTRUCTION and engineering group BBR Holdings expects to report a net loss for 2018, the company said on Tuesday after the market closed.

BBR did not give a reason for the loss, but said that details will be provided when the company announced its 2018 results.

For the nine months ended Sept 30, 2018, BBR reported a net loss of S$1.3 million as revenue fell 31.6 per cent to S$90.2 million. The company had attributed the slowdown to lower revenue from general construction and specialised engineering and a lack of revenue from property development.

For the three months ended Sept 30, BBR had a net profit of S$3.8 million, buoyed by S$7.5 million in its share of results from joint ventures.

BBR stock closed at 17.4 Singapore cents on Tuesday before the profit warning was issued, down by 0.6 per cent or 0.1 Singapore cent.