GLG Corp., a global textile and apparel supply chain manager, forecasts a net loss of US$2.8 million ($4.2 million) to US$3.2 million ($4.8 million) for FY24, citing decreased sales due to high customer inventory and logistics delays.
Factors contributing to reduced margins include high interest rates, price competition, and inventory write-offs.
The company's FY24 results are expected to be released on Aug. 28.