Electronics manufacturer Aztech Group issues profit warning on 3Q11 results

The company is expected to report a loss for 3Q11 due to additional expenses from its Marine Logistics segment.

In a statement, it said, “The Board of Directors of Aztech Group Ltd wishes to inform the shareholders of the Company and potential investors that the Group will record a loss for the third quarter ended 30 September 2011 as compared with a profit for the corresponding period in 2010.”

“The Group is expected to report a loss for 3Q 2011 due to the following reasons:-
(i) Increase in unrealized exchange loss due to the sudden appreciation of the US dollars in the month of September; and
(ii) Increase in operating costs of the Group’s Marine Logistics segment resulting from additional expenses incurred in gearing up its operations for the newly awarded contract.

The profit warning is based on a preliminary review of the unaudited financial results of the Group.”