Kwong Man Kee Group Limited is expected to record an increase in the consolidated profit attributable to the owners of the Company of approximately HKD 11.5 million or about 154% for the year ended 31 March 2023 as compared with the consolidated profit attributable to the owners of the Company for the corresponding period of 2022. The Board considered that the expected increase in the consolidated profit for the year was mainly attributable to (i) the increase in revenue as a result of increase in number of projects with higher contract sum undertaken by the Group; (ii) the subsidies provided by the Government of Hong Kong Special Administrative Region and the Government of Macau Special Administrative Region under the 2022 Employment Support Scheme and COVID-19 pandemic relief measures, respectively; and (iii) decrease in impairment loss on trade and retention receivables and contract assets.