SGX-listed Green Build Technology warns that first half of this year was loss-making

The board of Green Build Technology has issued a profit warning regarding the financial results for the group's first six months ended June 30. It expects to report a net loss after tax.

The loss is due to the group's packaging business performance being typically weaker in the first half of the year.

There was also no revenue recognised for the green technology business involving energy conservation and sustainable development projects as works on such projects were halted during the long winter period in Harbin, China. But there were fixed overhead and administrative costs that were incurred during the same corresponding period.

The Group's new energy conservation and sustainable development projects are expected to generate a substantial part of its revenue in the second half of the year.

The board wishes to advise shareholders and investors to exercise caution when dealing in the company's shares.