New Concepts (HKG:2221) expects a loss of HK$20 million for the six months ended Sept. 30, wider than HK$9.27 million logged for the same period last year, a Tuesday Hong Kong bourse filing said.
The foundation works company attributed the expected increase in loss to a one-off other income from its Yixing plant in China, lower financial results from its construction business resulting from overall lower gross margins for newly awarded projects and delay in progress for a certain project.
The shares of the company closed nearly 3% lower on Tuesday.
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