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DLF Holdings warns of H1 loss on tough operating environment
DLF Holdings is expected to report a significant loss for H1 2019 due to weak revenue arising from the challenging environment which the group operates in, it said in a profit guidance issued on Tuesday.
Weak revenue was also attributed to significant losses incurred by its turnkey contracting services division and the impairment of trade and other receivables.
The mechanical and electrical engineering services firm will report its first half 2019 unaudited consolidated financial results on or before Aug 14.
Its founder, Manfred Fan Chee Seng, previously dismissed all his directors at an annual meeting back in May as he was dissatisfied with the performance of one executive director.
Shares of Catalist-listed DLF Holdings were unchanged at S$0.19 as at 1.07pm.