The board of directors of Esprit Holdings Limited announced that based on its preliminary review of the unaudited consolidated management accounts of the Company and its subsidiaries for the full year ended 30 June 2017, the Company's management currently expects the Group to record a net profit in the range of approximately HKD 50 million to HKD 80 million, an improvement compared to last year. Overall development of the Group's results for fiscal 2017 is attributable to two main factors: an improvement of the financial performance of the Group's underlying operations (excluding xceptional items), estimated to be in the amount of approximately HKD 370 million to HKD 400 million compared to last year; and less favorable taxation credit, where this has been reduced to an amount of approximately HKD 156 million to HKD 186 million compared to last year's amount of HKD 606 million .