KTMG Limited provided group earnings guidance for the second half and financial year ended 31 December 2023. For the period, the Group is expected to report a net loss for the second half ended 31 December 2023 and the financial year ended 31 December 2023. While the Group saw an increase in revenue in second half ended 31 December 2023 compared to the corresponding period in second half ended 31 December 2022, the overall revenue for financial year ended 31 December 2023 will be lower than financial year ended 31 December 2022, primarily due to the comparatively lower revenue recorded by the Group in the first half ended 30 June 2023, attributable to the lower consumer purchasing power amid rising inflation and interest rates.

Despite an increase in revenue in second half ended 31 December 2023, the Group foresees reporting a net loss, primarily attributed to one-off costs incurred to fulfil a substantial maiden order from a new customer with a tight delivery schedule. As a result of the tight delivery schedule, the Group incurred higher salaries and production-related costs, and freight and delivery charges on the order concerned.