Financial Performance - Revenue for the year ended March 31, 2024, was HKD 1,564,215, a decrease of 31.4% compared to HKD 2,280,200 in 2023[2] - Gross profit for the same period was HKD 100,836, down 20.3% from HKD 126,446 in 2023, with a gross margin of 6.4%[17] - Profit attributable to equity holders for the year was HKD 17,259, representing a decline of 43.5% from HKD 30,550 in 2023[17] - Basic and diluted earnings per share decreased to HKD 3.5 from HKD 6.1, a drop of 43.5%[17] - Other income increased to HKD 7,308 from HKD 3,516 in 2023, indicating growth in non-core revenue streams[2] - The group reported a net profit attributable to equity holders of HKD 17,259 for 2024, with a weighted average number of shares of 500,000[41] - The overall gross profit margin increased from approximately 5.5% to 6.4%, despite a decrease in net profit from approximately HKD 30.6 million to HKD 17.3 million, a decline of 43.5%[73] - The company reported interest income of HKD 6.9 million for the year, compared to HKD 2.2 million in the previous year, reflecting a significant increase[60] Assets and Liabilities - Total non-current assets amounted to HKD 109,346, down from HKD 117,624 in 2023[5] - Current assets totaled HKD 728,486, a decrease from HKD 832,840 in 2023[22] - Total liabilities decreased to HKD 241,552 from HKD 364,005 in 2023, reflecting a reduction in both current and non-current liabilities[22][23] - Accounts receivable decreased to HKD 260,031 in 2024 from HKD 340,398 in 2023, reflecting improved collection efficiency[43] - The group's total liabilities decreased, with accounts payable dropping to HKD 18,006 in 2024 from HKD 28,291 in 2023, indicating better cash management[45] - The current ratio of the group improved to approximately 3.2 times as of March 31, 2024, compared to 2.5 times as of March 31, 2023[82] - The debt-to-equity ratio of the group was approximately 4.3% as of March 31, 2024, down from 7.5% as of March 31, 2023[111] Dividends - The company proposed a final dividend of HKD 0.94 per share, down from HKD 1.22 in 2023[17] - The board of directors proposed a final dividend of HKD 0.94 per share, totaling HKD 4,700,000, compared to HKD 1.22 per share and HKD 6,100,000 in 2023[133] Costs and Expenses - Service cost for 2024, including labor costs, depreciation, and inventory write-downs, totaled HKD 1,156,817, a decrease of 35% from HKD 1,780,590 in 2023[38] - Administrative expenses for the group decreased to approximately HKD 87.7 million for the year ended March 31, 2024, from HKD 91.7 million in the previous year, a reduction of about 4.4%[106] - Financing costs decreased to approximately HKD 3.0 million from HKD 6.9 million, representing a reduction in reliance on external borrowing[80] Business Development - The group successfully secured a five-year waste collection contract from the Tai Po District Government, marking a significant milestone for future development in the government client market[48] - The group achieved substantial growth in service revenue from the waste transportation business due to new contracts, improving profitability[48] - The company plans to diversify its business by developing security services, leveraging existing resources to create a new profit growth point[75] - The group successfully secured cleaning contracts with major clients, including a landmark shopping mall in East Kowloon and a five-star hotel in Kowloon, indicating a strategic expansion in the high-end client sector[100] - The group continues to develop its professional pest management business, which has created cross-selling opportunities with its cleaning services, enhancing overall service offerings[101] Governance and Compliance - The company has complied with all applicable code provisions in the Corporate Governance Code as of March 31, 2024[135] - The audit committee has reviewed the financial performance and consolidated financial statements for the year ending March 31, 2024[119] - The company has established a written terms of reference for the audit committee, which consists of three independent non-executive directors[119] - The company’s auditor confirmed that the figures in the annual performance announcement are consistent with the audited consolidated financial statements[122] Other Information - The estimated tax provision for the year was calculated at a tax rate of 16.5%, with total income tax expenses of HKD 1.966 million compared to HKD 7.535 million in the previous year[62] - The remaining performance obligations related to customer contracts totaled approximately HKD 1,318.8 million, down from HKD 1,788.4 million the previous year[58] - The estimated claims amount related to ongoing lawsuits and claims involving current or former employees and third parties is approximately HKD 3,372,000 as of March 31, 2024, down from HKD 4,303,000 in 2023[116] - No significant acquisitions or disposals were made during the fiscal year ending March 31, 2024[130] - The annual general meeting is scheduled for September 6, 2024, with a record date for the final dividend on September 16, 2024[123] - The last deadline for submitting transfer documents for the annual general meeting is August 30, 2024[124] - The company expresses gratitude to shareholders, investors, business partners, and employees for their support and efforts[126]
庄臣控股(01955) - 2024 - 年度业绩