The board of directors of the Food Wise Holdings Limited announced that the shareholders of the company and potential investors that, based on the preliminary review on the unaudited management accounts of the Group for the six months ended 30 September 2017, the Group is expected to record a net profit for the Period as compared with the net loss recorded for the six months ended 30 September 2016. The net profit was mainly attributable to no listing expenses incurred for the Period as compared to the listing expenses of HKD 14.7 million incurred for the Last Corresponding Period. When excluding the non-recurring listing expenses for the Last Corresponding Period, the Group would have recorded a profit for the Last Corresponding Period of HKD 11 million. The net profit for the Period is expected to drop by approximately 68% as compared with the HKD 11 million for the Last Corresponding Period, mainly due to the inclusion of legal and professional expenses to maintain the listing status of the company; the increase in staff costs due to increases in number of management and administrative staff to support the business expansion plan and the wage rate of the Group 's employees during the Period; the decrease in revenue resulted from (i) intense competition among food and beverage industry, and (ii) decrease in the aggregated number of operating days of company restaurants which was the net effect of the opening and closing of company restaurants during the six months ended 30 September 2016 and 2017 respectively; and the increase in monthly rental of the Group's leased properties upon renewal of the relevant leases and new properties leased.