Foreland Fabrictech issues profit warning, expects loss-making third quarter
THE board of mainboard-listed Foreland Fabrictech Holdings has issued a profit warning.
In a filing with the Singapore Exchange on Wednesday, Foreland Fabrictech said it expects "to report a loss and significant drop in revenue" for the third quarter ending Sept 30.
This is consistent with the weak economic sentiments expressed in the firm's second quarter results on Aug 14.
Foreland Fabrictech is an investment holding company which manufactures and sells fabrics for products such as apparel, bags and umbrellas in China.