07.11.2016

Tat Hong profit warning

Singapore based crane and access group Tat Hong has issued a first half profit warning, and expects to make a loss for the period to the end of September, compared to a pre-tax profit for the same period last year of $12.75 million, itself half the level of 2014.

The key element of the brief warning bulletin said: “Based on the preliminary review of its consolidated results, the Group is expected to report a loss for 2QFY2017 due to challenging market conditions in Singapore and Australia. Notwithstanding this, the Group is expected to record a strong cash and cash equivalent balance as at 30 September 2016.”