LEGION CONSO Issues Profit Warning, Anticipates Pre-Tax Loss Exceeding S$5.1 Million for FY2025

Stock News03-19

LEGION CONSO (02129) has announced a profit warning, forecasting a pre-tax loss of no less than S$5.1 million for the fiscal year 2025. This represents a significant downturn compared to the pre-tax profit of approximately S$5.9 million recorded in the previous fiscal year 2024.

The company attributes the anticipated loss for FY2025 to several key factors. Firstly, revenue is expected to decline to about S$61.2 million from approximately S$66.1 million in FY2024. This decrease is primarily due to reduced market demand, which led to a substantial drop in sales volume for truck transportation and freight forwarding services.

Secondly, operational costs have risen, including expenses for maintenance and logistics-related activities. This increase has compressed profit margins and negatively impacted overall profitability. Thirdly, other income streams have diminished, notably from lower interest earned on fixed deposits and adverse effects from foreign exchange fluctuations.

Furthermore, operating expenses have climbed, encompassing additional professional fees, bank charges, and other administrative costs. Finally, the company recognized impairment losses on intangible assets and trade receivables, further contributing to the expected financial loss for the year.

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