Hong Kong Johnson Holdings Co., Ltd. provided unaudited consolidated earnings guidance for the year ended 31 March 2024. For the period, the company expects to record a decrease of approximately 31% as compared to the revenue for the year ended 31 March 2023 of approximately HKD 2,280.2 million. The profit attributable to the equity holders of the Company for the Year is expected to record a decrease of approximately 44% as compared to the profit attributable to the equity holders of the Company for the year ended 31 March 2023 of approximately HKD 30.6 million.

According to the information currently available, the decrease in revenue and profit attributable to the equity holders of the Company for the Year was mainly attributable to (i) certain government contracts for the provision of cleaning services not being successfully renewed, which caused a decrease in revenue generated from government customers, which in turn resulted in a decrease in overall gross profit; (ii) the decrease by approximately HKD 4.3 million in subsidies received from the Employment Support Scheme of the Government of the Hong Kong Special Administrative Region and other government subsidies for the Year as compared with the year ended 31 March 2023; and (iii) the magnitude of decrease in certain fixed costs of the Group during the Year was less than the decline in revenue for the Year.