Glonghui, June 27丨SC Johnson Holdings (01955.HK) announced that for the year ended March 31, 2024, the Group recorded revenue of approximately HK$1,564.2 million, a decrease of 31.4% over last year. The Group's overall gross margin increased from approximately 5.5% to 6.4%. Profit during the year decreased by approximately HK$13.3 million, or 43.5%, from approximately HK$30.6 million for the year ended 31 March 2023 to approximately HK$17.3 million for the year ended 31 March 2024.

The decrease in revenue and profit was mainly due to (i) the failure to successfully renew certain government cleaning contracts, which reduced overall gross profit; (ii) the reduction in subsidies from the Hong Kong Special Administrative Region Government Employment Insurance Scheme and other government allowances by approximately $4.3 million this year compared to the year ended March 31, 2023; and (iii) part of the Group's fixed fees was used to reduce the decline in earnings during the year.