Royale Furniture Holdings Limited (HKG:1198) announced that the amount of the unaudited consolidated profit and total comprehensive income attributable to the shareholders for the six months ended 30 June 2012 is expected to decrease considerably as compared to that for the six months ended 30 June 2011. As estimated by the group's management, there may be a more than 90% year-on-year drop in the unaudited consolidated profit.

The estimated decrease in the unaudited consolidated profit is mainly because since the beginning of 2012, the weakening momentum of growth for the Chinese domestic economy has adversely affected the furniture industry and the domestic demand for the Group's products has declined. Consequently, the Group recorded a decrease in sales volume which led to an overall decrease in profits.

The Group’s unaudited interim result is expected to be announced in mid-August 2012.

Source:chinesestock.org