Xpress Holdings warns of massive net loss for FY14

Investors should brace themselves for bad news.

Mainboard-listed printing firm Xpress Holdings today warned investors that the Group is expected to report a significant net loss for FY14.

In a statement released on the SGX, Xpress Holdings’ Board of Directors noted that this warning is based on preliminary review of the Group’s unaudited financial results for the financial year ended 31 July 2014

“The expected net loss for FY2014 is mainly attributable to the recoverability issue relating to the Group’s receivables and impairment of goodwill. The Group is still in the process of finalising its unaudited financial results for FY2014. Further details of the Group’s financial results will be disclosed when the Group finalises and announces its unaudited financial results for FY2014. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company,” noted the statement.