You are here

Loyz Energy warns of full-year net loss

Loyz Energy on Saturday said it expects to record a net loss for the fourth quarter, and the fiscal year ended June 30, 2015.

This was mainly attributable to the group accounting for a one-time, non-cash impairment of its investments in both India and US. These non-core assets are expected to be sold.

"Given the current uncertainties surrounding oil prices, the company has decided to take a conservative approach in its assessment of its investments."