(Infocast News) In Construction Holdings Limited (INCON)(01500) issued profit warning. Based on preliminary assessment by the Board of the unaudited management accounts of the Group for the year ended 31 March 2025, the Group is expected to record a consolidated net loss of approximately HK$15 million to HK$20 million for the year, whereas the consolidated net loss in the corresponding last year was HK$12.9 million.
Such increase in consolidated net loss was primarily attributable to, among other factors, provision for liquidated and ascertained damages of certain foundation projects as a result of unexpected delays in progress, and changes in the estimation of variation orders from completed projects in prior years. (SY)