Larry Jewelry International Company Limited provided earnings guidance for the nine months ended September 30, 2015. It is anticipated that the Group continues to record a loss for the nine months ended 30 September 2015. However, the overall loss is expected to decrease by approximately 36% as compared with its unaudited consolidated results for the nine months ended 30 September 2014. Such decrease in loss was mainly as a result of the significant drop in the overall rental and staff costs of approximately 25% primarily due to the closure of Tsim Sha Tsui store in mid-2014; and (ii) the absence of the finance cost upon the repayment of all the Group's borrowings in 2014, while partly offset by the substantial decrease in the
Group's revenue of approximately 23% due to the sluggish luxury retail market in Southeast Asia and Greater China and the closure of Tsim Sha Tsui store.