profit warning

Restaurant chain operator Jumbo Group is expecting to report a “significantly lower profit after tax” for 1HFY2020 largely due to Covid-19.

SATS says it is now expecting its profits for the quarter to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.

The circuit breaker measures have resulted in the suspension of most of the construction works for the group’s ongoing projects, as well as the closure of its construction sites except for three essential ones.

DBS has cut its FY2020F and FY2021F earnings by 19% and 11% respectively, while CGS-CIMB has slashed its FY2020-2022F earnings per share (EPS) forecasts by 13.4%-38.6%.

The impairment losses include $64 million loss from the group’s divestment of its water business in Chile, a $158 million impairment of UK Power Reserve (UKPR) assets, as well as a $23 million impairment in China.

SINGAPORE (Oct 15): Maybank Kim Eng is cutting its earnings estimates for Hi-P International after the industrial mould manufacturing company lowered its earnings guidance for the second time this year, saying it expected lower y-o-y sales and profit comp

SINGAPORE (July 26): NRA Capital is maintaining its forecasts, valuation and “overweight” rating on Catalist-listed CNMC Goldmine Holdings at a fair value estimate of 38 cents – even as the group this morning issued a profit guidance to indicate tha

SINGAPORE (Jan 16): Hwa Hong expects to report a net loss for 4Q16, which is mainly due to “net unrealised losses arising from fair value changes on certain financial assets”.

SINGAPORE (Jan 13): CNMC Goldmine Holdings on Friday announced it expects to report a net loss for the quarter ended Dec 31, 2016.

SINGAPORE (Dec 22): Global Invacom Group has issued a profit warning in anticipation of reporting a net loss for FY16, primarily due to the consolidation of its manufacturing operations in China.