The board of directors of AL Group Limited announced that, based on a preliminary review and assessment of the information currently available to the Board, including the unaudited consolidated management accounts of the Group for the year ended 31 December 2016, the Group is expected to record a loss for the year ended 31 December 2016 as compared to net profit for the year ended 31 December 2015. Apart from the impact of the one-off listing expenses incurred in 2016, the expected loss was also attributable to the postponement of the signing and execution of certain projects to 2017 that resulted in lower-than-expected revenue recognized for the year ended 31 December 2016, as well as the increased operating expenses such as staff costs and compliance costs subsequent to the Company's listing.