Fairwood Holdings Limited provided unaudited consolidated earnings guidance for the six months ended 30 September 2019. For the six months, the company expected that the Group may record a significant decline in the profit attributable to the Shareholders for the six months ended 30 September 2019, as compared with the profit for the corresponding period last year. The said decline was mainly attributable to: the impact on adoption of Hong Kong Financial Reporting Standard 16, "Leases", which took effect on 1 January 2019 and superseded Hong Kong Accounting Standard 17, "Leases" and the decline in gross profit margin that was mainly due to the rising rental and labor costs.