I.T Limited announced that the board of directors of the company give an update to the shareholders of the company and potential investors that Audit Committee of the board had reviewed, the draft unaudited financial statements for the six months ended August 31, 2013 of the group on October 21, 2013. Based on the preliminary review of the draft unaudited financial statements for the six months ended August 31, 2013 available to the board, the profit of the group has a material drop as compared to that in the same period last year. Slower sales growth resulting from a slowdown in the apparel retailing markets across the group's key operating regions, alongside the downward pressure on profitability driven by surging operating costs were
the key factors to the decline in the group's business performance during the six months ended August 31, 2013.