Keong Hong sounds profit warning as higher construction costs persist

It expects to report the results on or before May 15.

Keong Hong Holdings expects to report lower earnings for 1HFY2024 ended March, no thanks to higher material and labour costs incurred in the aftermath of the pandemic.

According to the company, the higher costs have persisted into the current reporting period although the new projects awarded in 2023 have started to report
positive profit margins.

It expects to report the results on or before May 15.

Keong Hong Holdings shares last traded at 12 cents, down 20.67% year to date.

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