Financial Performance - Revenue for the fiscal year ended June 30, 2024, was HKD 8,447.9 million, an increase of 8.8% from HKD 7,767.2 million in 2023[2] - Gross profit for the same period was HKD 1,059.2 million, reflecting a slight increase of 0.7% compared to HKD 1,051.6 million in 2023[2] - Profit attributable to shareholders decreased by 4.2% to HKD 501.1 million from HKD 522.9 million in the previous year[2] - Basic earnings per share for the year were HKD 1.09, down 4.4% from HKD 1.14 in 2023[2] - The company declared a final dividend of HKD 0.214 per share, slightly up from HKD 0.213 per share in 2023[2] - Operating profit for the year was HKD 590.6 million, down from HKD 622.9 million in 2023[4] - The company reported a net profit of HKD 501,158 thousand for the year ended June 30, 2024[21] - The group recorded other comprehensive losses of HKD 6.6 million for the year, compared to HKD 10.1 million in 2023, primarily due to remeasurement losses on long service payment liabilities[79] - The group’s profit decreased by 4.2% or HKD 21.8 million to HKD 501.1 million, mainly due to reduced government subsidies and lower contributions from COVID-19 related work[77] - The adjusted profit attributable to shareholders, excluding government subsidies, increased by 6.6% to HKD 475.3 million from HKD 445.9 million in the previous year[78] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 3,949.7 million, a decrease from HKD 3,990.4 million in 2023[6] - Total liabilities decreased from HKD 3,291,013 thousand in 2023 to HKD 2,960,800 thousand in 2024, representing a reduction of approximately 10%[7] - Current liabilities amounted to HKD 2,871,117 thousand in 2024, slightly down from HKD 2,928,985 thousand in 2023, indicating a decrease of about 2%[7] - Non-current liabilities, including lease liabilities, decreased significantly from HKD 362,028 thousand in 2023 to HKD 89,683 thousand in 2024, a reduction of approximately 75%[7] - The net current assets rose from HKD 723,432 thousand in 2023 to HKD 773,984 thousand in 2024, an increase of approximately 7%[7] - The total cash and bank balances as of June 30, 2024, amounted to HKD 601.3 million, down from HKD 751.9 million in 2023, reflecting a decrease of HKD 150.6 million[81] - The total debt as of June 30, 2024, is HKD 235.8 million, reduced from HKD 282.0 million in 2023, indicating a decrease of HKD 46.2 million[80] - The net cash position decreased from HKD 469.9 million in 2023 to HKD 365.5 million in 2024, a reduction of HKD 104.4 million[80] Revenue Segments - The company operates in three main business segments: property and facility management services, integrated living services, and electromechanical engineering services[14] - Integrated living services revenue increased significantly to HKD 4,459,120 thousand in 2024 from HKD 3,766,783 thousand in 2023, marking a growth of about 18.4%[15] - Revenue from property and facility management services was HKD 712,535, while integrated living services generated HKD 3,859,381, showing a stable performance[24] - The revenue from electromechanical engineering services remained stable at HKD 3,325,368 thousand in both 2024 and 2023, showing a slight increase of 1.0%[18] - The revenue from environmental services provided was HKD 130,535 thousand in 2024, down from HKD 166,588 thousand in 2023, indicating a decline of about 21.6%[18] Dividends and Shareholder Returns - The total interim dividend paid was HKD 100.8 million, with a proposed final dividend of HKD 21.4 cents per share, compared to HKD 110.25 million and HKD 21.3 cents in 2023[36] - Proposed final dividend of HKD 0.214 per share for the year ending June 30, 2024, compared to HKD 0.213 in 2023[126] - Total dividend for the year will amount to HKD 0.438 per share, down from HKD 0.458 in 2023, with a payout ratio of 40.0%[126] Employee and Community Engagement - Employee costs increased to HKD 3,674,284 from HKD 3,166,654, representing a rise of approximately 16%[29] - The group has 25,297 employees as of June 30, 2024, an increase from 24,496 employees in the previous year, reflecting a growth of approximately 3.3%[105] - Over 3,658 volunteers contributed more than 26,530 hours of community service, achieving 106.1% of the 2023/24 target[96] - The company organized and participated in 178 fundraising, charity, and community events to support children, the elderly, and disadvantaged groups[96] - The company aims to create a diverse and inclusive work environment, ensuring equal opportunities regardless of race, gender, age, or background[94] Environmental and Sustainability Initiatives - The company has set new environmental goals to reduce fuel consumption by 1.0%, electricity consumption by 1.5%, and paper procurement by 8.0%[89] - The company’s environmental management system is ISO 14001 certified, ensuring sustainable business practices and effective environmental impact management[88] - The company is focusing on expanding its environmental quality, smart facilities, and green living services to achieve long-term sustainability goals[53] - The group is committed to sustainable development and green building principles, aiming to reduce energy consumption and carbon footprint through innovative design and construction methods[122] Corporate Governance - The company has established an audit committee composed of four independent non-executive directors to review financial reports[131] - The company aims to maintain high levels of corporate governance to protect shareholder interests[130] - The company has adhered to the corporate governance code, except for the absence of the chairman at the 2023 annual general meeting[130] Market Position and Future Outlook - The company plans to continue expanding its market presence in Hong Kong and mainland China, focusing on enhancing its engineering services[30] - The property and facility management sector has over 50 years of experience and is poised for growth due to increasing demand for professional management services in Hong Kong[107] - The group is expanding its operations in mainland China, focusing on major property development projects for Hong Kong and foreign investors[122] - The group remains financially robust and is prepared to capitalize on every business opportunity in the future[125]
丰盛生活服务(00331) - 2024 - 年度业绩