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Broadway Industrial Group warns of likely Q1 net loss

MAINBOARD-LISTED precision manufacturer Broadway Industrial Group has warned of an expected first-quarter net loss, in a guidance from the board on Friday.

The company expects a net loss for the period to March 31 on lower revenue from the hard disk drive business, based on a review of draft financial results.

More details will be available in the full financial results, which are due by May 15, with the board advising shareholders to exercise caution when dealing in Broadway shares until then.

Broadway had previously reported a net loss of S$110,000 for its fourth quarter to Dec 31, which was sharply narrower than the S$15.7 million loss in the same period the year before.

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