Lam Soon (Hong Kong) Limited provided unaudited consolidated earnings guidance for the year ended 30 June 2023. For the period, the Group is expected to record a net profit in a range of approximately HKD 80 million to HKD 90 million for the year ended 30 June 2023, as compared to the net profit of HKD 257 million for the previous financial year. The decrease in net profit for the year ended 30 June 2023 as compared to the previous financial year was mainly attributable to increase in wheat cost resulting from the Ukraine war and other external factors leading to a significant decrease in gross profit margin; decrease in customers demand caused by dampened consumers sentiments resulted from the pandemic-hindered economic recovery in Mainland China; losses incurred by company specialty fats company in Jintan, East China, due to competitive pricing strategy triggered by sharp decline in palm oil prices.