Financial Performance - Revenue for the six months ended September 30, 2023, was HK$67,520,000, representing an increase of 13.5% from HK$59,642,000 in the same period of 2022[24] - Profit for the period increased to HK$53,165,000, up 37.7% from HK$38,603,000 in the previous year[4] - Basic earnings per share rose to HK1.98 cents, compared to HK1.43 cents for the same period last year, reflecting a growth of 38.5%[2] - The comprehensive income attributable to owners of the Company for the period was HK$49,380,000, up from HK$32,459,000 in the previous year, representing a growth of 52.1%[32] - The Group reported a profit before taxation of HK$57,987,000 for the six months ended September 30, 2023, compared to HK$43,619,000 for the same period in 2022, indicating a growth of around 32.9%[71] Revenue Breakdown - The Company reported a decrease in broking revenue to HK$2,979,000 from HK$3,106,000, a decline of 4.1% year-over-year[46] - Revenue from properties investment leases increased to HK$18,403,000, up 20.5% from HK$15,283,000 in the prior year[46] - Financing interest from margin clients decreased to HK$2,450,000, down 20.4% from HK$3,077,000 in the previous year[46] - Financing segment revenue increased to HK$45,390,000, up from HK$40,124,000, reflecting a growth of about 13.3% year-over-year[71] - Properties investment segment revenue rose to HK$18,403,000, compared to HK$15,283,000 in the previous year, marking an increase of approximately 20.5%[71] Assets and Liabilities - Net assets as of September 30, 2023, were HK$2,757,055,000, slightly down from HK$2,761,140,000 as of March 31, 2023[5] - The total equity attributable to owners of the Company as of September 30, 2023, was HK$2,758,389,000, slightly down from HK$2,762,469,000 as of March 31, 2023[34] - The Company’s reserves decreased to HK$2,731,565,000 from HK$2,735,645,000, reflecting a reduction of 0.15%[34] - The Group's non-current assets as of September 30, 2023, were valued at HK$1,743,124,000, slightly down from HK$1,749,916,000 as of March 31, 2023[73] - The Group's total assets as of September 30, 2023, were HK$817,990,000, compared to HK$825,908,000 at the end of March 2023[84] Cash Flow and Liquidity - Cash and cash equivalents stood at HK$398,513,000, down from HK$459,327,000, a decrease of 13.2%[10] - The Group had bank balances and cash of approximately HK$398.5 million as of September 30, 2023, down from HK$459.3 million as of March 31, 2023[175] - The Group's cash at banks was HK$41,960,000 as of September 30, 2023, down from HK$48,500,000 as of March 31, 2023[126] - Secured bank loans amounted to HK$48,792,000 as of September 30, 2023, down from HK$138,715,000 as of March 31, 2023[154] Dividends and Shareholder Returns - The company did not declare any interim dividend for the period, consistent with the previous year[7] - The company declared an interim dividend of HK$0.02 per share, with a total payout of approximately HK$53,646,000, unchanged from the previous year[140] Economic Environment - The economic environment remains complex, with global economic growth slowing and demand declining due to high inflation and interest rates[141] - The Hong Kong economy has shown signs of recovery, with economic activity improving compared to the previous year, although the recovery foundation is still unstable[142] - The economic outlook for the second half of 2023 is cautiously optimistic, with expectations of steady improvement in the economy of Mainland China and Hong Kong[172] Credit and Risk Management - The Company is closely monitoring credit risk and has implemented regular reviews of collateral values to minimize exposure[148] - The aging analysis of receivables is prepared monthly to minimize credit risk associated with debtors[120] - The Credit Committee meets weekly to monitor loan recoverability and collateral value, reporting regularly to the Board[121] Operational Highlights - The Group's guarantees to financial institutions in respect of facilities granted to subsidiaries amounted to HK$452.0 million as of September 30, 2023[182] - The Group has complied with all covenants throughout the reporting period[129] - The Group recognized tax losses of approximately HK$64,483,000 available for offsetting against future taxable profits, slightly down from HK$64,486,000[77]
美建集团(00335) - 2024 - 中期业绩