Tiong Seng warns of FY2025 net loss as legacy project costs bite
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Tiong Seng Holdings Limited has warned of a net loss for FY2025, following a net profit of $2.8 million in FY2024. The anticipated loss is attributed to lower revenue and timing discrepancies in recognizing variable order costs. Additionally, final losses from legacy projects, exacerbated by increased costs, are impacting the financial outlook. The company will provide more details in its unaudited FY2025 results, expected by 1 March 2026.
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