Bonjour Holdings says it believes it significantly cut back its losses last year.

In a stock exchange filing, the company  said that based on preliminary data for the 11 months to November, its loss for the full year is likely to “decrease significantly” on the previous year’s hefty HK$202.3 million.

In the filing, chairman and executive director Wilson Ip Chun Heng said the decrease was mainly attributable to an improvement in the company’s operational efficiency, particularly the cost saving on shop rental and general and administrative expenses.

“Moreover, there was a loss on disposal of and an impairment loss on available-for-sale financial assets of approximately HK$6.1 million and HK$140.3 respectively recorded in 2017,” he said.

The positive profit warning is based on a preliminary review of the unaudited consolidated management accounts of the group with final figures to be released in March.