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CSC Holdings responds to SGX query on Q1 loss

ENGINEERING services firm CSC Holdings has responded to an SGX query on its profit guidance announcement released on July 27, in which the company said it and its subsidiaries expect to report a net loss for the first quarter ended June 30.

The SGX query on July 30 asked CSC Holdings to elaborate on the factors causing the net loss.

In a filing on Tuesday evening after the market closed, CSC Holdings said the net loss "was mainly due to a slow start for 1Q2019 as a result of delays in the commencement of work for new projects secured".

It added that further details of the group’s financial performance will be disclosed when the company announces its unaudited consolidated financial results for the first quarter, no later than Aug 14.

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