Transcorp warns of expected wider full-year loss

CATALIST-LISTED Transcorp Holdings on Thursday night warned of an expected loss for the financial year ended Oct 31, 2018.

Based on a preliminary assessment of its financial results for the year, Transcorp expects to record a net loss after tax which is higher than that of FY 2017. "The expected loss is largely due to a reduction in the number of cars sold, leading to lower revenue," said Transcorp.

The company will announce its unaudited consolidated financial results for FY2018 by the end of December 2018. It advised caution in dealing in its shares.

In June, Transcorp reported that its loss for the half-year ended April 30 had widened to S$2.68 million, from S$2.28 million in the same period a year before.