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Hot stock: Tung Lok shares fall 11.8% after it warns of H1 2018 loss
SHARES of Tung Lok Group fell 11.8 per cent or three Singapore cents to 22.5 Singapore cents in the morning trade. As at 10.54am, about 154,000 shares changed hands.
This comes as Tung Lok issued a profit warning this morning that it expected a net loss for the half-year ended Sept 30, 2017.
In a Singapore Exchange (SGX) filing on Thursday, the group said that the loss is "mainly attributable to the decrease in the group's revenue as a result of the challenging economic environment which has affected overall sales".
It added that the company's performance for the first half of the year from April to September is usually weaker than that of the second half from October through March.
Tung Lok's unaudited financial results will be out on or before Nov 14.