Hifood Group Holdings Co., Limited provided consolidated earnings guidance for the year ended March 31, 2018. For the year, the loss attributable to the owners of the company for the year ended 31 March 2018 is expected to be increased by approximately HKD 28.1 million as compared to the year ended 31 March 2017. The primary reason for the deterioration of results performance was mainly due to a decline in the group's revenue by approximately HKD 113.9 million or 20.8%, and gross profit by approximately HKD 28.2 million or 26.4% for the year ended 31 March 2018 as compared to the year ended 31 March 2017. The decrease in the group's revenue was primarily due to significant decrease in sales in America and Europe (other than Russia), on weaker-than-expected market condition under a turnaround in consumer interest in fine jewellery and sluggish European economy, respectively; accordingly, gross profit declined. Based on the information currently available, there was an increase in the one-off expenses incurred from the business operation and resources allocation process in lay off expense of approximately HKD 19.5 million as compared to that for the year ended 31 March 2017. The group's loss for the year ended 31 March 2018 increased as a result of such expenses.