UKF (Holdings) Limited provided consolidated earnings guidance for the year ended March 31, 2016. For the year, the company expects decrease in consolidated net profit or net loss for the year ending 31 March 2016 is mainly attributable to a substantial drop of approximately 50% in average fur skin price recorded in the first round of auctions held at 4 major auction houses during the season, namely North American Fur Auctions in Canada, Kopenhagen Fur in Denmark, Saga Furs in Finland and American Legend Cooperative in the United States of America, resulting in (i) the reduction in commission income of the Group's fur skins brokerage and financing business, and (ii) the write-down of fur skin inventory in fur trading segment and minks at the Group's mink farms as expense to reflect the prevailing market price. The substantial drop in average fur skin price is also expected to stymie the fur skin production in 2016 which may reduce the volume of fur trading and in turn affect the performance of Group's fur trading and fur skins brokerage and financing business in 2016.