Greens Holdings (HKG:1318) expects to record significantly lower net profit attributable to the owners of the company for the year ended 31 December 2011 compared to the corresponding period in 2010.

The board believes that the decrease was mainly attributable to the decrease in gross profit margin as a result of very challenging market conditions, order intake at lower gross profit margins than in previous periods, project timing delays and additional project costs not transferred to customers in the second half of 2011.