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KLW warns of Q1 net loss on weaker sales in door business
DOOR-MAKER KLW Holdings warned over the weekend that it expects to post a net loss for the first quarter ended June 30, 2019.
"Based on the preliminary review of its draft financial results for Q1 FY2020, the losses are mainly due to decline in revenue from the door business.
"The company is still in the process of finalising its results for Q1 FY2020 and will provide further details of the group's performance when it releases the financial results on or before Aug 14," KLW said in a regulatory filing on the Singapore Exchange website on Saturday.
KLW urged shareholders to exercise caution when dealing in the company's shares.
The counter closed at 0.2 Singapore cent on Friday, down 0.1 Singapore cent.
For the year ended Mar 31, 2019, the group reduced its net loss to S$1.38 million from the S$7.97 million net loss for the preceding financial year.
Revenue slipped 9 per cent to S$30.3 million, mainly due to lower export sales for the door business.