SLB Development expects 1HFY2024 loss in profit guidance

The company will release its 1HFY2024 results on or before Jan 12, 2024.

SLB Development 1J0 says it expects to report a loss for the 1HFY2024 ended Nov 30 based on a preliminary review of the unaudited financial results for the full year period.

In a profit guidance filing, the company says the loss is mainly due to higher finance costs and lower contribution from the Group’s property development projects for which profits were largely recognised prior to 1H2024.

The company has advised that further details of its performance will be set out in its unaudited financial results for 1HFY2024, to be released on or before Jan 12, 2024.

Shares in SLB Development closed 0.5 cents higher or 4.85% up at 10.8 cents on Dec 22.