Fraser Holdings Limited provided earnings guidance for the year ended April 30, 2016. The company expects to report a substantial decrease in profit for the year ended 30 April 2016 of approximately 30% to 40%, as compared to last year mainly attributable to the recent slower approval progress of infrastructure projects by the Legislative Council of Hong Kong and the Finance Committee of the Legislative Council of Hong Kong, which resulted in certain delays in works orders under the Group's ongoing slope works contracts; the fact that some of the relatively sizeable tender bids previously submitted by the Group turned out to be not successful; a decrease in the Group's other income including rental income from the lease of machinery and gain on disposal of plant and equipment; and an increase in the Group's staff cost as a result of an increase in the number of Directors and other employees.