Furniweb Holdings Limited provided earnings guidance for the year ended 31 December 2018. Based on the preliminary review of the unaudited consolidated management accounts of the Group for the financial year ended 31 December 2018, there was a substantial decline in the Group's net profit by approximately 93% in the year as compared with that for 2017. The Board is of the view that the Group's profitability for the Year was mainly affected by the following factors: decrease in revenue as: certain customers became more prudent in their procurement plan in view of the uncertainty in the global trade market as a result of the on-going trade spat between the United States and China; certain customers were still undergoing their new products development and thus reduced their orders for existing products; certain other customers reduced their procurement as their local currencies depreciated against United States dollar, major sales denomination currency; in light of the unfavourable business environment, increased sales of relatively lower margin products; decrease in the Group's revenue reported in Malaysian Ringgit which appreciated against USD as compared to last year; and one of the Group's then subsidiary became an associate company since 14 September 2017, its revenue is therefore excluded from consolidation for the Year; increase in cost of sales, mainly raw material prices resulted from the rise in crude oil prices, which had not been passed on to customers; lower production volume as compared to last year increased the weighing of fixed overheads over total cost of sales; and higher share of loss from an associated company during the year.