Jason Marine Group issues profit warning

JASON Marine Group issued a profit warning on Monday after the market closed, saying that it expects to record a net loss for the six months ended Sept 30, 2017.

Results for that period were affected by softer demand caused by the effects of depressed oil prices and intense market competition, the marine electronics systems integrator said.

For the full year ended March 31, Jason Marine had reported a net profit of S$363,000, against a net loss of S$6 million a year ago.

The group's counter had closed at 15 Singapore cents, up 1.7 cents or 12.8 per cent on Monday, before the profit warning was announced.