Jiutian Chemical Group expects net loss for Q3

CATALIST-LISTED Jiutian Chemical Group expects to report a net loss for the third quarter ended Sept 30, after a preliminary review of its unaudited results, the group announced in a profit guidance filing on Tuesday after the market closed.

It said the losses are mainly due to lower profit margins resulting from a substantial increase in raw material costs, along with the low production level of its sodium hydrosulfite facility, arising from strict industry-wide environmental controls and poor product prices.

Further details will be available in the company's Q3 results, to be announced by Nov 14. Jiutian advised shareholders and potential investors to exercise caution when dealing in its shares.

Jiutian shares closed unchanged at 3.1 Singapore cents on Tuesday.