Restaurant operator Fairwood (HKG:0052) expects a 50% to 60% decline in attributable profit for the six months ended Sept. 30 from around HK$36.3 million a year prior, a Monday bourse filing said.

The firm attributed the lower profit mainly to the northbound spending trends of local residents, consumption downgrade in Hong Kong and Mainland China; and the closure of underperforming stores leading to related expenses and impairment provisions.