Thelloy Development Group (HKG:1546) expects a net loss attributable to the owners of not more than HK$14 million for the six months ended Sept. 30, compared with the net profit of HK$240,000 in the corresponding period of the previous year, according to a Monday filing with the Hong Kong bourse.

The company attributed the expected turnaround from profit to the higher subcontracting and direct staff costs and the increased finance cost due to an increased interest rate or bank loans for the period.

The property construction services company plans to publish its interim results by the end of November.