FSM Holdings Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2022. The board of directors informed the shareholders of the company and potential investors that, based on preliminary assessment of the Company with reference to the unaudited consolidated management accounts of the Group for the six month ended 30 June 2022 and other information currently available to the Company, it is expected that the Group would record a profit attributable to the owners of the Company in the range of approximately SGD 1.3 million to approximately SGD 2.3 million for the Period as compared to a loss attributable to the owners of the Company of approximately SGD 2.3 million for the corresponding period in 2021. The expected turnaround from loss to profit for the Period was mainly due to: increase in revenue resulting from the continued growth of the manufacturing sector in Singapore during the Period; increase in gross profit as the costs of certain production overheads which were in general fixed in nature and not increasing in line with the increase in revenue during the Period; and decrease in legal and professional fees incurred as professional fees for the resumption of trading of the Company's shares were incurred in the first half of 2021.