Thakral issues profit warning

THAKRAL Corp said yesterday that it is likely to slide into the red for the six months ending Sept 30 as sales and profit margins fall significantly amid heavy competition.

It said it incurred a loss of $640,000 for the five months ended Aug 31, after it bled $2.9 million in July and last month. The expected first-half loss will reverse a $9.3 million profit chalked up in the same period last year.

Thakral expects market conditions to remain difficult for the rest of the financial year.

It intends to report its first-half results in the second week of November.