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Federal International (2000) warns of Q2 loss on poor trading sales
MAINBOARD-LISTED Federal International (2000) warned of a second-quarter net loss due to lower sales from its trading business, the oil and gas procurement specialist said on Tuesday morning.
Among other things, the net loss is mainly attributable to "lower sales from the trading business segment, as a result of the near completion of its Zawtika Development Project Phase 1C", the company said.
It added that the group is in the process of finalising its unaudited results for the second quarter ended June 30, and will provide further details of the group’s performance on or before Aug 14.
Shares in Federal International last traded at S$0.25 apiece, down 3.8 per cent or one Singapore cent.