Design Capital Limited provided consolidated earnings guidance for the year ended 31 December 2021. The group is expected to record a decrease in revenue in the range of 20% to 30% and profit in the range of 30% to 40% for FY2021 as compared to that for the year ended 31 December 2020. The decrease in revenue was primarily attributable to the decrease in revenue from the U.S. furniture sales segment, which was mainly due to (i) supply chain disruptions caused by COVID-19 restrictions on the operations of factories, container shortages, longer than usual time taken for port loading and unloading and congestion at ports which affected inventory restocking; and (ii) a sharp increase in shipping costs.

The decrease in profit was mainly attributable to the decrease in revenue from the U.S. furniture sales segment.