Epicentre Holdings expects to post a loss for FY16

EPICENTRE Holdings has issued a profit warning for the financial year ended June 30, 2016, flagging that it expects to report a loss.

This is due to "lower sale from certain Apple products as well as erosion of gross profit margin derived from the sale of third party accessories as a result of increased price competition", it said in a release to the Singapore Exchange. The group also provided added provisions in anticipation of the soft information technology and consumer electronics sector.