Cosmosteel Holdings Forecasts Net Loss Amid Challenges

Cosmosteel Holdings Limited (SG:B9S) has released an update.

Cosmosteel Holdings Limited anticipates reporting a net loss before tax for the financial year ending September 2024, influenced by delayed sales order fulfillments, unfavorable currency exchange rates, and inventory impairments due to falling steel prices. Despite maintaining a solid order book, these challenges have impacted the company’s financial performance. Investors are advised to proceed cautiously when dealing with the company’s shares.

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