GME Group Holdings Limited provided group earnings guidance for the six months ended 30 June 2019. For the period, the company announced that, based on a preliminary assessment of the unaudited consolidated management accounts of the group for the six months ended 30 June 2019 and other information currently available to the Company, the Group expects to record a substantial decline in its financial performance and anticipates to report a gross loss and a net loss for the six months ended 30 June 2019 as compared to the gross profit and the net profit for the six months ended 30 June 2018. The Board considers that such substantial decline in its financial performance is mainly attributable to: a significant decrease in revenue for the Reporting Period of around 57% due to the substantial completion of major infrastructures projects in late 2018 and the delayed handover of the construction sites of certain newly awarded public construction projects to the Group during the second quarter of 2019; the generally lower profit margins of work performed on non-tunnel construction projects during the Reporting Period as compared to the tunnel construction projects in the corresponding period in 2018; and increasing competition in the construction market which resulted in lower profit margins for the projects in 2019.