Dynasty Fine Wines Group Limited Reports Unaudited Consolidated Sales Results for the Six Month Ended June 30, 2018; Provides Earnings Guidance for the Six Months Ended June 30, 2018
The board of directors of the company announced that based on the preliminary assessment of the draft unaudited consolidated management accounts of the group for the six months ended 30 June 2018, it is expected the group would record an increase in unaudited consolidated loss for the six months ended 30 June 2018 by approximately 20% as compared to the unaudited consolidated loss for the six months ended 30 June 2017, subject to potential adjustments following further internal review. Such increase was primarily attributable to the decrease in revenue and gross profit as compared to the six months ended 30 June 2017. The decrease in revenue for the six months ended 30 June 2018 was mainly due to the deteriorating operating condition for certain distributors in Eastern and Southeast regions of the PRC during the reporting period.