Continental Aerospace Technologies Holding Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2023. For the period, the Company is expected to record a profit after tax of not less than HKD 150 million (2022: approximately HKD 51 million) for the year ended 31 December 2023. As demand in the global general aviation market remained strong in 2023, both sales revenue and corresponding gross profit of the Group 's general aviation aircraft piston engine business maintained an upward trend.

The significant increase in profit after tax for the year ended 31 December 2023 was mainly attributable to (a) the recognition of deferred tax credit in relation to the tax losses of previous years by a subsidiary of the Company in the United States, which has started to generate taxable profits in 2023; and (b) the profit after tax for 2022 included an impairment of other intangible assets.