GRANDSHORES (01647) has announced a profit warning for the company.

The group expects to report an annual loss in the range of approximately SGD 3 million to SGD 4 million for the financial year ending March 31, 2026. This compares to an annual loss of about SGD 1.5 million recorded for the previous financial year ended March 31, 2025.

The board of directors attributes the increased loss primarily to several key factors. Firstly, the company secured fewer awarded projects in its integrated building services and construction engineering segments during the current year.

Secondly, a decline in the price of Bitcoin during the period led to a fair value loss being recognized on the company's inventory of digital assets.

Finally, increased exchange losses recorded under other income and expenses were a result of currency exchange rate fluctuations.