Manshing Global (08309) announced that it is expected to achieve a profit after tax of about HKD 15.2 million for the fiscal year ending March 31, 2024, compared to a profit after tax of about HKD 28.3 million for the fiscal year ending March 31, 2023.

The announcement stated that the board of directors believes that the decrease in the group's profit after tax during the reporting period is mainly due to the increase in employee costs during the reporting period, leading to an increase of approximately HKD 3.5 million in the group's administrative expenses; and subsidies received by the group from the anti-epidemic fund and employment support scheme established by the Hong Kong government last year, which were not received during the reporting period, resulting in a decrease of approximately HKD 2.1 million in other income related to the subsidies.