UKF (Holdings) Limited provided earnings guidance for the fourth quarter and full year ended March 31, 2014. Based on the preliminary review by the company's management on the unaudited consolidated management accounts of the group, the board of directors of the company expected to record a substantial drop in the net profit for the three months ended March 31, 2014 as compared to the net profit for the corresponding period in 2013. However, insofar as the group's annual results are concerned, the net profit for the year ended March 31, 2014 is expected to increase compared to that of the year ended March 31, 2013.

Based on the information currently available, the Board considers that such substantial drop in the fourth quarter net profit was mainly due to the decrease in market price of mink and fox skins in fur auctions during the three months ended March 31, 2014.