Leeds Group plc provided earnings guidance for the financial year ending 31 May 2018. As noted in Interim Report, trading performance at operating subsidiaries was lower than expectations in the first half of the year. Despite the disappointing first half, the Board believed at that time that the underlying trading result for the full year would be better than last year. However, the trading performance of the operating subsidiaries in the second half of the year has been below the Board's expectations as market conditions were difficult in March and this is expected to continue into the final two months of the financial year. The Group profit before tax for the full year is therefore expected to be below the Board's expectations for the current financial year.