The board of directors of Skyfame Realty (Holdings) Limited informed the shareholders of the company and potential investors that, based on the preliminary assessment of the group's unaudited management accounts for the year ended 31 December 2014 and the information currently available to the Board, the group expects to record an after-tax loss for the year ended 31 December 2014 as compared to the after-tax profit for the year ended 31 December 2013. The unaudited consolidated after-tax loss of the company is mainly due to: decrease in revenue due to the lower volume of properties completed and delivered during the year; increase in staff costs due to the increase in headcount following the expansion in the property development team and the property management team in the newly acquired property management business; decrease in fair values of investment properties and write-down of properties under development; and loss on disposal of equity interest in a project company.