BGMC (01693) issues profit warning: Expected mid-term net loss attributable to shareholders decreased to approximately RM8.3 million.

BGMC (01693) announced that the Group expects to incur a net loss attributable to owners of the company of approximately RM8.3 million for the six months ending on September 30, 2024. In the same period in 2023, the net loss attributable to owners of the company was RM14.1 million. The decrease in net loss during the reporting period is mainly due to significant progress in newly acquired projects leading to an increase in revenue; a reduction in project cost overruns leading to a decrease in recognized gross loss; and a decrease in financial costs during the reporting period.