Oil and gas and mining engineering firm AusGroup says it expects to post a net loss for the quarter and half-year ended December 2015.
This, it says, was due to the continued delay in the commercialisation of the port and marine business and a worse-than-anticipated pullback in capital expenditure in the oil and gas industry.
To boost its cash reserves, the company sought to resolve long outstanding contractual claims, resulting in significant impairment write-downs of receivables.
The stock closed 1% higher at 10.5 cents.
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This, it says, was due to the continued delay in the commercialisation of the port and marine business and a worse-than-anticipated pullback in capital expenditure in the oil and gas industry.
To boost its cash reserves, the company sought to resolve long outstanding contractual claims, resulting in significant impairment write-downs of receivables.
The stock closed 1% higher at 10.5 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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