Ipco expects net loss for H1 FY18 due to translation effects
Add BT as a preferred sourceIPCO International is expecting to report a net loss for its first half year ended Oct 31, 2017 (H1 FY18) - due mainly to the translation effect on the operations of the group's foreign currency-denominated subsidiaries.
The mainboard-listed construction and turnkey project company said in a filing to the Singapore Exchange on Tuesday that the forecast is based on a preliminary review of the draft unaudited consolidated financial results.
Translation effects refer to effects of changes in exchange rates on the consolidated accounts of a company that has businesses that report in different currencies.
Ipco added in the filing that it is in the process of preparing and finalising its H1 FY18 financial results, which will be released on or before Dec 14, 2017.
Copyright SPH Media. All rights reserved.
TRENDING NOW
JLL retrenches some Singapore staff following restructuring
How China’s young workers are securing their future even as AI disrupts job market, triggers pay cuts
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
Middle East-linked energy supply shocks put Asean Power Grid back in focus
