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Global Yellow Pages issues profit warning for FY2016
SGX-LISTED Global Yellow Pages Limited announced on Tuesday that the group is expected to report a loss for FY2016. This follows a preliminary review of the group's unaudited consolidated financial results for the financial year ended June 30, 2016.
The expected loss is mainly attributed to the impairment of fixed assets and other provisions with respect to the group's 50 per cent shareholding in Singapore River Explorer Pte Ltd, impairment in the group's investment in Yamada Green Resources Limited, and fair value loss on revaluation of investment property. These are non-cash items and will not have an impact on the group's cash position and cash flows.
The company is still in the process of finalising the financial results of the group for FY2016, and further details of its financial performance will be disclosed when it announces its unaudited financial results for FY2016 in August.
Shareholders of the company and potential investors are advised to exercise caution when dealing in the shares of the company.