Alpina, Emerging Towns & Cities, Santak issue respective profit warnings

The company will report its earnings for 2HFY2023 and FY2023 on or around Feb 29.

Shares in Alpina closed unchanged at 18.5 cents on Feb 2.

Separately, ETC Singapore (SGX:1C0) says it expects to report a loss for its FY2023 ended Dec 31, 2023, based on a preliminary review of its unaudited financial results,

The group has attributed the expected loss to higher selling and distribution expenses, administrative expenses and finance costs in the Golden City project in FY2023

See also: Zixin 1HFY2026 earnings double to RMB16.06 million

ETC Singapore will report its earnings for FY2023 on or around Feb 28.

Shares in ETC Singapore closed unchanged at 3.4 cents on Feb 2.

Santak 580 has also issued a profit warning for the 1HFY2024 ended Dec 31, 2023, expecting to report a substantially higher loss before tax for 1HY2024 compared to the year-before period. 

See also: OCBC 1HFY2025 net profit falls 6% y-o-y to $3.7 bil

This is mainly due to substantially lower production activities level and machines utilisation rates in 1HY2024 arising from significantly lower forward sale orders received at the end of half-year period for the second half of FY2024 ending June 30.

However, Santak expects to post an increase in revenue from higher contributions from its precision engineering division as demand from the data storage sector increased in 1HFY2024.

Santak will report its earnings for 1HFY2024 before or around mid-February.

Shares in Santak closed unchanged at 3.2 cents on Feb 2.