Esprit Holdings Ltd. board of directors announced that based on its preliminary review of the unaudited consolidated management accounts of the Company and its subsidiaries for the six months ended 31 December 2014, the Group is expected to record a net profit of between HKD 40 million to HKD 50 million as compared to a net profit of HKD 95 million for the corresponding period in the last financial year. Based on the information currently available, the expected lower net profit is mainly attributable to a larger than expected decrease in turnover due to prolonged unusually warm weather in Europe for majority part of the Period Under Review, resulting in much lower than expected sales of Autumn/Winter products and special return agreements in China to address aged inventory in the wholesale channel, which although completed in the first quarter, also impacted top line performance in the Period Under Review.