NH Ceramics says it expects to report losses for FY2005 ended June 30 - with second-half losses exceeding those of the first half. In the first half, it had a net loss of $352,000. When the company announced its interim results in February this year, it had said that 'barring any unforeseen circumstances, the directors expect the performance of the group in the second half of FY2005 to be better than that of the first half'. NH Ceramics cited weaker than expected revenue and profitability for its expected losses, adding that delays in renovation works at its new showroom at the HDB Centre also led to increased expenses. It also expects to set aside provisions for the diminution of property values and stock obsolescence.

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(The Business Times)