Magnus Energy Group Ltd. provided group earnings guidance for the third quarter and nine months ended March 31, 2012. The Group expects to report improvement in net profit for the third quarter ended March 31, 2012 as compared to the corresponding period in 2011 mainly due to decrease in administrative expenses and foreign exchange gain. The Group is expecting to report a lower net profit for the nine months period ended March 31, 2012 than that for the corresponding period ended March 31, 2011 due to lower overall demand in its subsidiary in oil and gas equipment supply segment. The higher earnings previously was partially due to one-off gain from disposal of its subsidiary Songyuan Yongda Oilfields Exploration and Technology Co. Ltd.