TOMO HOLDINGS Issues Profit Warning, Anticipates Loss for Fiscal 2025

Stock News03-12

TOMO HOLDINGS (06928) has announced that the group expects to record a loss of approximately S$3.7 million for the fiscal year ending December 31, 2025. This compares to a loss of about S$2.6 million in the previous corresponding period.

The board of directors attributes the increase in the loss primarily to the following factors: Travel expenses and entertainment costs rose from approximately S$100,000 and S$100,000 respectively in the prior year to about S$300,000 and S$600,000 in the current year. This increase is due to enhanced marketing activities undertaken during the year to improve the group's business performance. Additionally, net exchange gains and losses shifted from a net gain of around S$200,000 to a net loss of approximately S$300,000. The net exchange result primarily reflects exchange differences arising from the settlement of foreign currency transactions and the conversion of monetary assets and liabilities denominated in foreign currencies at year-end exchange rates, along with the fair value gain on investment properties.

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