AMVIG Holdings Limited reported audited consolidated earnings results for the year ended December 31, 2017. For the period, the company reported turnover of HKD 2,448,316,000 against HKD 2,551,386,000 a year ago. This drop was mainly due to a reduction in production by the customers resulted from overstocking of certain high-end brands cigarettes, the sales of which were also affected by the increase in tobacco tax and austerity measures. Profit before tax was HKD 532,928,000 against HKD 357,768,000 a year ago. Profit for the year attributable to owners of the company was HKD 345,785,000 or 37.2 cents per basic share against HKD 175,589,000 or 18.9 cents per basic share a year ago. Excluding the exchange differences, and on a constant currency basis, the group's underlying net profit increased by 6% to HKD 282 million from HKD 266 million. The increase was mainly due to the results of cost savings in response to the decreased sales and worsening product mix arising from the further destocking by the tobacco companies in China.