Ares Asia Limited provided earnings guidance for the six months ended 30 September 2017. For the period the group is expected to record a significant increase in net losses attributable to the Shareholders by about 271% as compared to that for the corresponding period in 2016 mainly due to decline in sales volume of the Group for first half of 2017 by approximately 28% as compared to first half of 2016; an increase in average purchasing cost of coal as a result of the market price of coal having remained elevated and showed less volatility during first half of 2017 when compared to first half of 2016 which had led to slower purchases by the Group and an increase in shipping costs of coal, all of which had put significant pressure on gross profit margin for the period.