Nico Steel flags 'significant increase' in six-month net profit

SINGAPORE - Mainboard-listed Nico Steel Holdings is likely to see "a significant increase" in its forthcoming six-month earnings, thanks to higher revenue and margins for its own brand of metal alloy materials, the board of directors has said.

The projected jump in consolidated net profit was attributed to an improvement in operating results that stem from its Nico-branded products, according to a positive profit guidance released on Tuesday (Sept 25).

Nico Steel expects to announce its interim results for the period ended Aug 31, 2018, by Oct 15.

The directors noted that the information has not been audited or reviewed by either the independent company auditor or the board's audit committee, and advised shareholders and potential investors to exercise caution when dealing in Nico Steel shares.