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Noel Gifts warns of full-year net loss on valuation write-down

MAINBOARD-LISTED Noel Gifts International has warned of an expected loss for the financial year ended June 30, based on the preliminary review of its unaudited consolidated financial results.

"The expected net loss is attributable to the write-down in valuation of our industrial investment property," said Noel Gifts in a filing on Tuesday. It is scheduled to announce its unaudited financial results for the year on Aug 27.

In the meantime, shareholders and potential investors are advised to exercise caution when dealing in the company's shares, said Noel Gifts.

Noel Gifts shares closed unchanged at 19.4 Singapore cents on Tuesday before the announcement.

sentifi.com

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