Ernest Borel Holdings Limited provided earnings guidance for the six months ended June 30, 2017. For the period, based on board's preliminary review of the unaudited consolidated management accounts of the group for the five months ended 31 May 2017, it is expected that the group will record a net loss for the six months ending June 30, 2017 as compared to the corresponding period in 2016. This expected decrease is primarily attributable to the provisions made to the loss of inventories and decrease in gross profit and margin due to a decrease in revenue of approximately 28% as compared to the same period in 2016 leading to a decrease in orders placed by watch retailers and authorized distributors.