Madison Wine Holdings Limited provided earnings guidance for the six months ended September 30, 2016. For the six months, the company expected loss after tax for the six months ended 30 September 2016 of approximately HKD 7.1 million. Such loss was mainly due to the economic downturn in the retail market; the recognition of the equity-settled share-based payment expenses; and the decrease in the gross profit margin for the purpose to maintain the competitiveness in the market.