The board of directors of Embry Holdings Limited announced that, based on the unaudited consolidated results of the Group for the year ended 31 December 2016, it is expected that the net profit of the Group for the year ended 31 December 2016 will decrease significantly as compared to that for the year ended 31 December 2015. Overall sales of the Group for year ended 31 December 2016 and the stores that had been in operation for more than 2 years both noted a drop of more than 10%, when compared to the same period in 2015. The decline in the financial performance of the Group was mainly due to continuous weak retail environment with cautious consumption sentiments, decrease in gross profit margin and increase in overall operating expense as a percentage of revenue.