The board of directors of Bauhaus International (Holdings) Limited informed the shareholders of the company and potential investors that based on the preliminary assessment of the unaudited consolidated management accounts of the Group, the Group's net profit for the year ended 31 March 2016 is expected to decline substantially by about 50% to 70% as compared to that for the year ended 31 March 2015 (2015: net profit of HKD 129.4 million). The unfavourable results were primarily caused by the sluggish retail consumption in major markets where the Group operates, particularly in Hong Kong and Macau, leading to a decline in sales and gross profit.