WAC Holdings Limited provided consolidated earnings guidance for the year ended 31 March 2022. For the period, the company expects to record a net loss of approximately HKD 4.7 million as compared to a net profit of approximately HKD 6.3 million for the year ended 31 March 2021. The Group is expected to record a net loss mainly attributable to the (a) absence of government subsidies received from Hong Kong SAR Government under the Employment Support Scheme; (b) increase in provision of impairment loss on trade receivables for fiscal year 2022; (c) fair value loss on derivative financial assets relating to investment in an associate held by the Group as at 31 March 2022; and (d) impairment loss recognised in respect of the interest in an associate for fiscal year 2022.
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