However, based on developments in the first half of 2023 and in the current macro environment, ASA International Group PLC expects net profit to be lower this year compared to 2022. The reasons for this are related to (i) demonetization and further inflation impact on operations in Nigeria, (ii) further devaluation of operating currencies against USD year-to-date in Pakistan, Ghana, Kenya and Nigeria, and (iii) incidental tax claims in some of jurisdictions, including higher taxes now applicable in Pakistan than expected.