Technics Oil and Gas issues profit warning for Q4

It’s expecting a net loss this quarter.

Mainboard-listed Technics Oil & Gas Limited today issued a profit warning regarding the financial results of the company and its subsidiaries for the fourth quarter period and full year ended 30 September 2014.

The group noted that based on the preliminary financial figures, the Group is expected to report an operating net loss attributable to shareholders for both Q4 and FY2014 after taking into account the provision of impairment recommended by the auditors.

“Further details of the Group’s performance will be disclosed when it announces its Q4 FY2014 and FY2014 unaudited financial results. Shareholders and potential investors of the Company are as such advised to exercise caution when dealing in the Company’s shares. When in doubt, shareholders and potential investors are strongly advised to seek independent advice from their bankers, stockbrokers, solicitors or other professional advisers,” the company stated in a release to the SGX.