Blumont Group flags loss for second quarter

The board of Blumont Group has warned that the group is likely to report a loss for

second quarter ended June 30.

This was attributable to the unrealised losses arising from fair value readjustments of the group's investment in transferable securities (financial assets) as well as the

provision to be made for impairment for investments and assets affected by the recent volatility and downturn in the financial market and global economy.

Nonetheless, Blumont expects to be profitable for the first half year.

Further details will be disclosed when the group announces its half year financial statements later.