King Fook Holdings Limited provided unaudited consolidated earnings guidance for the year ended 31 March 2020. For the year, the company expected to achieve consolidated profit attributable to owners of the company for the Year of over HKD 5 million as compared to about HKD 0.7 million for the previous year. Such substantial increase in profit was primarily due to an increase in revenue in the retail business of the Group during the Year mainly as a result of continued growth of sales to local high-end customers, though sales in February and March 2020 were adversely affected by the Covid-19 outbreak. The Covid-19 outbreak has adversely affected the Group's business. For the period from February to April 2020, the Group's revenue dropped by about 42% as compared to the same period last year. The Company believes Covid-19 will have significant impact on the Group's sales performance in the first half of 2020. Currently, the Group's liquidity position has not been materially affected. The Group has taken measures to improve operation efficiency and control over inventory and costs (e.g. negotiating rent reduction with landlords). However, the Group did not carry out any staff redundancy or no pay leave measures during February to May 2020.