BGMC(01693) issues profit warning, expecting mid-term net loss attributable to shareholders of approximately 24.4 million Ringgit.

BGMC(01693) announced that the Group is expected to incur a net loss attributable to shareholders of approximately RM24.4 million for the six-month period ending on February 28, 2026, compared to a net loss of RM7 million for the six-month period ending on February 28, 2025. The increase in net loss for the reporting period is mainly due to (including): (i) additional default penalties incurred by projects; (ii) additional rectification costs and cost overruns incurred by a major construction and structural engineering project, leading to a decrease in gross profit margin; (iii) a decrease in other income, primarily attributable to a decrease in the size of funds deposited with financial institutions during the reporting period, resulting in a decrease in confirmed interest income compared to the corresponding period; (iv) no surplus profits from discontinued operations during the reporting period, while a surplus of approximately RM500,000 was recorded in the corresponding period.