Glonghui, October 20, 丨 SC Johnson Holdings (01955.HK) announced that, according to the information currently obtained and the company's management's preliminary assessment of the Group's unaudited comprehensive management accounts for the first 5 months ending August 31, 2023, the Group is expected to record a decrease of about 34% in revenue during the period ended August 31, 2022, while the company's revenue was approximately HK$1,036 million. Shareholders of the company recorded during the expected period after taking into account changes in accounting estimates had a decrease of about 57% in profit during the period. For the first 5 months ending August 31, 2022, the profit attributable to equity holders of the company was approximately HK$27.4 million.
According to currently available information, the decrease in revenue and profit for the period ended August 31, 2022 was mainly due to (i) the failure to successfully renew certain government cleaning contracts since April 2023, which reduced revenue from government customers during the current period; (ii) the decline in profits from several service contracts of the Group due to intense market competition; (iii) a decrease of approximately HK$1.8 million in government subsidy revenue from the Hong Kong Special Administrative Region Government Employment Insurance Program during the period compared to the first 5 months ended August 31, 2022; and (iv) some of the Group's fixed expenses The decline over the period was less than the decline in earnings.