Vard issues profit warning over Brazilian operations

Singapore

YARD group Vard Holdings on Thursday issued a profit warning ahead of the release of its third-quarter financial results on Nov 11. It cited operational challenges faced in Brazil.

Vard warned that its results for the third quarter ended Sept 30 and the full year ending Dec 31 will be "materially negatively affected", taking into account "the negative trend in the Brazilian economic and political environment".