MECOM Power and Construction (HKG:1183) forecasts a profit of between 10.4 million Macanese patacas and 12.8 million patacas in the first half, down from 38.2 million patacas in the year-ago period, according to a Friday filing with the Hong Kong Exchange.
The builder attributed the anticipated profit decline to lower revenue from its construction business due to weaker demand from casino and resort operators and a fall in income from its steel structure segment due to a decrease in average rebar prices.
The construction company plans to release its first-half results before the end of August.
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