CFM Holdings expects to record a net loss (post tax) for FY20 due to a decline in revenue and profit margin, it warned in a filing to the Singapore Exchange on Thursday.

 

The decline came on the back of the economic slowdown caused by the pandemic a key client pushing back manufacturing of their products and an increase in administrative expenses due to higher depreciation charges.

 

CFM is a manufacturer providing metal stamping services, design, fabrication and the sale of tool-and-die used for the manufacture of stamped metal components.

 

It added that further details of the group&rsquo s performance will be disclosed when the company announces its financial results for FY2020 on or before Aug 28.