Glory Holdings (03789.HK) announced on November 13 that the company expects to record a loss attributable to the company's owners of approximately 4.8 million to 9.8 million Hong Kong dollars for the six months ending September 30, 2024, compared to a profit of about 7.6 million Hong Kong dollars for the same period last year.

The board of directors believes that the transition from profit to loss is mainly due to (1) impairment losses recognized on right-of-use assets and leased land and buildings due to re-evaluation; (2) delays in progress caused by changes in subcontracting agreements, resulting in additional costs; and (3) delays in the assessment of instructions and change orders for a major subcontracting contract.