Luxury car distributor EuroSports Global expects to report both lower revenue and higher losses for FY2024 ended March.
As flagged when it reported its 1HFY2024 ended Sept, higher car taxes for higher-end cars announced in the Singapore Budget for 2023 had dampened the demand for higher-end cars.
In addition, the late arrival of two Lamborghini models, which it distributes, affected the company's sales as well.
The company expects to report its FY2024 on or before May 27.
EuroSports Global shares ended May 13 at 14 cents, down 5.41% for the day and down 17.65% year to date.
