Casablanca Group Limited provided consolidated earnings guidance for the six months ended 30 June 2023. For the period, the Group is expected to record a loss attributable to the Shareholders of not more than HKD 9.0 million for the Period as compared to the profit attributable to the Shareholders of approximately HKD 2.6 million for the corresponding period in 2022. Based on the information currently available, the Board believes that the primary reasons for the change to loss attributable to the Shareholders for the Period from profit attributable to Shareholders for the corresponding period in 2022 remain to be those factors as disclosed in the Profit Warning Announcement.

The reduction in loss attributable to the Shareholders for the Period to not more than HKD 9.0 million as compared to the estimated loss from the range of approximately HKD 11.0 million to HKD 14.0 million as stated in the Profit Warning Announcement is primarily attributable to a smaller allowance for inventories made than expected.