GP Industries warns of $58m-$68m loss in FY24

📆 5/27/2024 11:20 AM
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pstrongThe company attributed its expected net loss to its share of XIC Innovation's FY24 loss./strong/p pGP Industries expects a loss attributable to shareholders, ranging between S$58.0m and S$68.0m in FY24.

GP Industries expects a loss attributable to shareholders, ranging between S$58.0m and S$68.0m in FY24.

"The impairment loss of XIC Innovation for FY24 is derived based on the valuation report prepared by an independent external valuer and such loss is expected to be within the range of approximately $181.0m to $197.0m," the company elaborated. Without the share of attributable loss from XIC Innovation for FY24, GP Industries would have reported a profit attributable to its shareholders between $16.0m and $18.0m for FY24.

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