Sitoy Group Holdings Limited provided consolidated earnings guidance for the year ended 30 June 2017. Based on a preliminary review of the Group's unaudited consolidated financial statements for the year ended 30 June 2017, the profit attributable to owners of the company for the year ended 30 June 2017 is expected to decrease substantially as compared to the profit attributable to owners of the company of approximately HKD 370,142,000 for the corresponding period in 2016. Based on the relevant information currently available, the Board considers that such a decrease is primarily attributable to the decrease in the revenue of the Group as a result of the decrease in global demand from high-end and luxury brand customers in the manufacturing business, which in turn led to the decrease in sales orders of the Group's manufacturing business. The company's retail business has shown significant recovery for the year ended 30 June 2017. The retail segment for the year ended 30 June 2017 is expected to record a significant increase in revenue when compared to the retail segment revenue of approximately HKD 119,617,000 for the corresponding period in 2016 and is expected to record a segment profit for the year ended 30 June 2017 as opposed to a segment loss in the corresponding period in 2016. It is mainly due to the Group's efforts in enhancing its retail channel structure and store efficiency; the revenue contribution from its wholesale business; and the implementation of cost control policies.