Pak Wing Group (Holdings) Limited provided consolidated earnings guidance for the full year ended March 31, 2016. The board of directors of the company announced that based on the information currently available and a preliminary review of the latest unaudited consolidated management accounts of the group for the year ended 31 March 2016, the group is expected to record a net loss for the year ended 31 March 2016, as compared to a net profit of approximately HKD 11.9 million attributable to shareholders for the year ended 31 March 2015. Based on the relevant information currently available to the company, the board considers that such loss incurred was mainly attributable to (i) the significant decrease in turnover due to the filibustering at the Public Works Sub-committee of the Finance Committee of the Legislative Council resulting in a severe delay to the funding approval process of public works; (ii) the declined gross profit margin as a result of the increase in labour costs and the increasing competition from other contractors seeking to tender projects at low price; and (iii) the adverse impact to the industry due to the deterioration of the overall economic environment.