Biscuit manufacturer Khong Guan has issued a profit warning that it expects to report a net loss for its FY2021 ended 31 July.
Based on the preliminary review of its draft unaudited consolidated financial results for FY2021, the loss is attributed to a decrease in the share of results of its associate in Malaysia,” the company said.
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However, the company said it is still in the process of finalizing its results for FY2021, and will provide further details of its performance when it releases its financial results for FY2021 by 29 November.
Shares of Khong Guan closed at $1.46 on 19 Oct, down 9 cents or 5.81% lower than its previous close.