Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 783.6 million, an increase of about 11.6% compared to HKD 702.1 million for the fiscal year ending March 31, 2023[3] - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 66.5 million, reflecting a slight increase of about 1.3% from HKD 65.6 million in the previous year[3] - The profit attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 9.8 million, a decrease of about 54.4% from HKD 21.4 million in the previous year[3] - Basic earnings per share attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 0.81, down from HKD 1.78 in the previous year[3] - The net profit for the fiscal year 2024 was approximately HKD 9.8 million, down from HKD 21.4 million in the fiscal year 2023[47] Revenue and Contracts - Revenue from customer contracts for the year 2024 reached HKD 783,575,000, an increase of 11.6% compared to HKD 702,112,000 in 2023[28] - The company secured eight new contracts in fiscal year 2024, with a total contract value of approximately HKD 1,067.4 million, representing an increase of about 480.7% from HKD 183.8 million in fiscal year 2023[49] - The total contract backlog as of March 31, 2024, was estimated at approximately HKD 1,072.1 million, an increase of about 140.7% from HKD 445.4 million in the previous fiscal year[49] Expenses and Costs - Direct costs for FY2024 were approximately HKD 717.1 million, an increase of about HKD 80.6 million or 12.7% from approximately HKD 636.5 million in FY2023, consistent with the revenue increase[55] - Employee benefits expenses totaled HKD 88,376,000 in 2024, slightly down from HKD 89,203,000 in 2023, indicating a decrease of 0.9%[33] - The company reported a total of HKD 51.5 million in employee benefits included in direct costs for fiscal year 2024, compared to HKD 49.1 million in fiscal year 2023[36] - Administrative and other operating expenses decreased by approximately HKD 7.6 million or 11.6% from HKD 64.7 million in FY2023 to HKD 57.1 million in FY2024, mainly due to reduced legal and professional fees[58] Assets and Liabilities - Total assets as of March 31, 2024, were approximately HKD 412.1 million, compared to HKD 328.3 million as of March 31, 2023[6] - Current liabilities increased to approximately HKD 162.3 million as of March 31, 2024, from HKD 97.6 million in the previous year[6] - The company's net asset value as of March 31, 2024, was approximately HKD 316.6 million, compared to HKD 306.9 million as of March 31, 2023[7] - Trade receivables increased to HKD 68.2 million in fiscal year 2024 from HKD 41.6 million in fiscal year 2023[40] - Other payables and accrued expenses increased from approximately HKD 43.5 million as of March 31, 2023, to approximately HKD 60.2 million as of March 31, 2024, mainly due to increased construction work[63] Dividends and Shareholder Returns - The board of directors did not recommend the payment of any final dividend for the fiscal year ending March 31, 2024[3] - The company did not propose any dividends for the fiscal year ending March 31, 2024, consistent with the previous year[37] - The company did not recommend any final dividend for the fiscal year 2024[89] Corporate Governance - The company emphasizes high standards of corporate governance to maintain stakeholder trust[91] - The board of directors has fully complied with the corporate governance code applicable for the fiscal year 2024[93] - The audit committee consists of independent non-executive directors, ensuring compliance with listing rules[95] - The company has adopted the corporate governance principles outlined in the listing rules[93] Economic Outlook and Strategy - The company maintains a cautious optimism regarding the economic outlook for Hong Kong in 2025, with ongoing success in securing new contracts and tenders[64] - The company aims to optimize its capital structure and reduce borrowing to maintain financing costs at a minimum level while focusing on providing quality and flexible solutions[66]
御佳控股(03789) - 2024 - 年度业绩