AM Group Holdings Limited provided unaudited consolidated earnings guidance for the period ended 31 December 2022. For the year, company expects that the Group would record a net profit attributable to owners of approximately SGD 2.1 million as compared to the net profit attributable to owners of the Company of approximately SGD 5.6 million for the period ended 31 December 2021. The decrease was mainly due to the following reasons: The decrease of profit of a subsidiary, being Majestic State International Limited, by approximately 54% from SGD 3.5 million for the period ended 31 December 2021 to the amount of SGD 1.6 million for the period ended 31 December 2022 caused by the impact of the ongoing pandemic.

Decreased gross profit margin in the Group's business segment of, search engine marketing services, from approximately SGD 2.6 million for the period ended 31 December 2021 to the amount of SGD 1.6 million for the period ended 31 December 2022, due to higher cost of service incurred and lower management fee charged to customers.