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No Signboard Holdings likely to post Q3 net loss, board warns

CATALIST-LISTED seafood restaurant operator No Signboard Holdings will likely extend its losses into its third quarter to June 30, the board warned on Wednesday.

The group - which had rung up losses of S$337,500 in the three months prior - "is expected to report a net loss… resulting mainly from lower revenue coupled with higher operating costs", the board said.

Its guidance is based on a preliminary assessment of results that could still be reviewed by the audit committee. The finalised financial statements are slated for release by Aug 14.

"In the meantime, shareholders of the company are advised to exercise caution when dealing in the shares of the company," the board added.

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The latest profit warning adds to woes at No Signboard, which made its bourse debut in November 2017 but is now trading far below its initial S$0.28 offer price.

Its chief executive officer, Lim Yong Sim, was also arrested in end-April over a share buyback exercise that saw shares bought at a price higher than allowed, and during a blackout period. He was not charged with any offence at the time.

No Signboard added 0.1 Singapore cent or 1.64 per cent to 6.2 Singapore cents on Wednesday before the guidance was released.