Vistar Holdings Limited provided earnings guidance for the year ended 31 March 2023. For the year, the company expects to record a decrease of the consolidated profit and total comprehensive income attributable to the Shareholders to not lower than approximately HKD 4.3 million, or a decrease of 80% for the Reporting Period as compared with a net profit of approximately HKD 20.8 million recorded for the year ended 31 March 2022. The Board considers that such variance was mainly attributable to events including the decrease in gross profit generated from the core business of the Group driven by less revenue being recognised from the projects of installation services in the completion or substantial completion stage during the Reporting Period, plus increased direct labour and material costs incurred on work performed as a result of inflation driven by shortage of labour and supply chain disruptions on global resources.

The above decrease was offset by (a) the reduction of listing expenses incurred during the Reporting Period in relation to the proposed transfer of listing of the shares of the Company from GEM to the Main Board of the Stock Exchange as is closed in the announcements of the Company dated 17 June 2021 and 31 December 2021 and which was discontinued as disclosed in the announcement of the Company dated 28 June 2022, and (b) the reduction of income tax expenses attributable to the decrease in taxable income net of deductions.