Advancer Global (43Q:SES), an integrated services provider offering workforce solutions and services in Singapore, published a trading update and profit guidance.

The group said that based on preliminary assessment of its unaudited consolidated financial results for the half-year ended 30 June 2021, the group is expected to report a net loss for H1 2021 as compared to a net profit for the half year ended 30 June 2020.

“Since the onset of the Covid-19 pandemic in the beginning of 2020, the group’s business activities have continued to be dampened,” the company stated. “The employment services have been disrupted due to worldwide travel controls which restricted foreign domestic workers from entering into Singapore.”

“Income received from stewarding services has reduced substantially due to enhanced precautionary measures imposed to the group’s customers across commercial properties, hotels and restaurants,” Advancer stated. “Other operating income reduced due to lesser government supports in the year of 2021.

The company said cost of sales increased substantially as a result of increase in direct labour costs.

The group said it is in the process of finalising its unaudited financial results for H1 2021.