Man Sang Jewellery Holdings Limited announced that based on a preliminary assessment by the management of the Group on the unaudited consolidated management accounts of the Group for the three months ended 30 June 2015, the company expects to record a decline in the group's revenue by approximately 20% and gross profit by approximately 23% for the three months ended 30 June 2015 as compared to the same period in 2014. Based on the information currently available, the decline was primarily attributable to (i) downturn in the global economy during the Period, leading to a decrease in demand of the group's products; and (ii) weakening of the Euro and Japanese Yen which has reduced the price competitiveness of the group's pearl and jewellery products to customers in Europe and Japan.