PRG’s HK subsidiary issues profit alert, expects net loss for 1H

KUALA LUMPUR: PRG Holdings Bhd's 54.19%-owned subsidiary Furniweb Holdings Ltd has issued another profit warning, that it may record a net loss for the six months ended June 30, 2019.

In a filing with Bursa Malaysia Tuesday, PRG said based on the preliminary review of the unaudited consolidated management accounts of Furniweb for the six months ended June 30, Furniweb expects to record a substantial decline in its financial performance and anticipates to report a net loss for the period of approximately RM4.2mil as compared to the net profit of approximately RM600,000 for the corresponding period in 2018.