Furniweb Holdings Limited provided earnings guidance for the six months ended June 30, 2018. The board of directors of the company informed the shareholders of the company and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2018 (the "Period"), there was a substantial decline in the Group's net profit by approximately 75% in the Period as compared with that for the corresponding period in 2017. The Board believes that the Group's profitability for the Period was mainly affected by the following factors: (i) decrease in sales volume as certain major customers were still undergoing their new products development and thus reduced their orders for existing products while certain other customers reduced their procurement as their local currencies depreciated against United States dollar (the "USD"); (ii) decrease in the Group's revenue reported in Malaysian Ringgit which appreciated against USD, major sales denomination currency; (iii) increase in cost of sales, mainly raw material prices, which had not been passed on to customers; (iv) lower production volume as compared to the same period in the preceding year increased the weighing of fixed overheads over total cost of sales; and (v) additional corporate expenses were incurred during the Period.