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Wing Tai issues profit guidance, expects 'significant decrease' in net profit for FY2023

Jovi Ho
Jovi Ho • 1 min read
Wing Tai issues profit guidance, expects 'significant decrease' in net profit for FY2023
On July 28, Wing Tai’s wholly-owned subsidiary Wincove rescinded its contract to acquire Holland Tower. Photo: SRI
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Wing Tai Holdings (SGX:W05) has issued a profit guidance, expecting to report a “significant decrease in net profit attributable to shareholders” at its upcoming results for FY2023 ended June.

According to an Aug 4 bourse filing, Wing Tai’s financial position “remains healthy” with a “low net gearing ratio” of approximately 0.08x as at June 30.

The company is in the process of finalising its unaudited consolidated results for FY2023, which will be released on Aug 25.

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