The Board of Directors of Joyas International Holdings Limited announced that he group's financial year ending December 31, 2012 results might be adversely affected by weak sales and margins in its principal markets namely US and Europe, possible restructuring costs and provisions due to downsizing of the metal gifts and jewellery business and additional tax assessment on certain of the group subsidiaries. The Group expects to report a loss for financial year 2012 as a result of the above.