San Miguel Brewery Hong Kong Limited provided consolidated earnings guidance for the year ended December 31, 2016. The board of directors of the company announced that based on the preliminary review on the latest available unaudited management accounts of the company and its subsidiaries, the Group is expected to record a net profit attributable to shareholders of the company for the year ended 31 December 2016 as compared to the loss for the same period in 2015. The Board considers that the net profit is mainly attributable to lower cost of sales that was mainly due to the drop in aluminium price and the depreciation of Renminbi; lower advertising and promotion expenses due to re-evaluation and reallocation of media mix; and rationalization of creative production costs; and increase in rental income generated by the Group's investment property.