KML Technology Group Limited provided preliminary unaudited consolidated group earnings guidance for the fiscal year ended March 31, 2024. For the year, the company expects to record a loss before tax of not more than approximately HKD 14 million, as compared to a loss before tax of approximately HKD 32 million for the year ended 31 March 2023 (FY2023). Based on the preliminary review, the Board believes that the anticipated reduction in loss is primarily due to an increase in gross profit to approximately HKD 30 million in FY2024.

This improvement was primarily attributable to the increase in revenue by approximately HKD 41 million in FY2024; and no addition of provision for onerous contracts was identified in FY2024 while provision of onerous contracts of approximately HKD 16 million were recognised in FY2023.