Lorenzo International Limited provided earnings guidance for the year ended December 31, 2012. For the year, the company is expected to report a significantly higher net loss for the financial year ended December 31, 2012 compared to a net loss of SGD 1.2 million recorded in the financial year ended December 31, 2011. The deterioration in the company's results for the fiscal year 2012 was mainly due to the continued weakening in global demand resulting in poorer export sales, generally weaker consumer demand in core markets that the company operates; and poor performance of the two factories located in China resulting from the decline in the group's revenue.