The board of directors of Next Media Limited informed the shareholders of the company and potential investors that the group is expected to record a profit for the year ended 31 March 2014 as compared to a substantial loss in last year. Based on the information currently available to the Board, the print media operations are continuing making positive contribution to the group whilst the digital business performance has improved, the anticipated turnaround of the financial results for the year ended 31 March 2014 is primarily attributable to, amongst other things, (i) the substantial decrease in operating expenses resulting from the disposal of the Group's TV operations in Taiwan and cessation of publication of Hong Kong Sharp Daily; and (ii) the gain on disposal of the remaining 30% shareholding interest and shareholder's loans in Colored World Holdings Limited to Mr. Lai Chee Ying, Jimmy, the chairman and substantial shareholder of the company.