Lorenzo International Limited provided earnings guidance for the six months ended June 30, 2012. For the period, the company expected to report net loss compared to a net profit recorded in the six months ended June 30, 2011. The deterioration in the Group's results was mainly due to several negative trends converging at the same time including: a further weakening in global demand resulting in poorer export sales; generally weaker consumer demand for furniture in Malaysia and Taiwan; and a strong Singapore dollar which meant the same amount of foreign income translated into lower Singapore dollar earnings.