Revenue and Profitability - Revenue increased by approximately 56.8% from HKD 1,017,000,000 for the year ended March 31, 2023, to HKD 1,595,100,000 for the year ended March 31, 2024[3] - Net profit surged by approximately 92.5% from HKD 8,800,000 to HKD 16,900,000 year-over-year[3] - Basic and diluted earnings per share increased from HKD 0.88 to HKD 1.69[4] - Total revenue for 2024 reached HKD 1,595,083,000, up from HKD 1,017,037,000 in 2023, marking a significant increase of 56.7%[15] - The company reported a net profit of HKD 16,933,000 for 2024, up from HKD 8,796,000 in 2023, indicating a growth of 92.4%[25] - Net profit increased by approximately 92.5% to about HKD 16,900,000 from HKD 8,800,000, with net profit margin rising from approximately 0.9% to 1.1%[53] Revenue Sources - Revenue from diesel sales increased to HKD 1,511,507,000 in 2024 from HKD 937,700,000 in 2023, representing a growth of 61.2%[15] - Diesel sales generated revenue of approximately HKD 1,511,500,000, accounting for 94.8% of total revenue, with sales volume increasing by approximately 99.7% to 269,700,000 liters[41] - Lubricant sales revenue was approximately HKD 44,400,000, representing 2.8% of total revenue, with sales volume decreasing by about 37.0% to 1,700,000 liters[42] - Fleet card services generated revenue of approximately HKD 33,500,000, accounting for 2.1% of total revenue[44] Financial Position - Non-current assets decreased from HKD 140,532,000 to HKD 131,193,000, while current assets increased from HKD 120,284,000 to HKD 141,977,000[6] - Total liabilities decreased from HKD 54,586,000 to HKD 49,772,000, indicating improved financial stability[6] - Current assets as of March 31, 2024, were approximately HKD 142,000,000, up from HKD 120,300,000 in the previous year[62] - Current liabilities decreased to approximately HKD 49,800,000 from HKD 54,600,000, resulting in a current ratio of 2.9 compared to 2.2 in the previous year[62] - Trade receivables amounted to approximately HKD 47,284,000, an increase from HKD 38,010,000 in the previous year[27] - Trade payables were recorded at HKD 10,382,000, an increase from HKD 8,098,000 in the previous year[31] Expenses and Costs - Sales cost increased by approximately 59.1%, amounting to HKD 1,546,700,000 compared to HKD 972,300,000 in the corresponding period[46] - Gross profit rose by about 8.2% from HKD 44,700,000 to HKD 48,300,000 during the same periods[3] - Gross margin decreased from 4.4% to 3.0%[47] - Selling and distribution expenses decreased by approximately 27.4% to HKD 4,700,000 from HKD 6,400,000 due to reduced salaries and allowances[49] - Administrative expenses decreased by approximately 18.8% to about HKD 23,700,000 from HKD 29,200,000, primarily due to the reversal of trade receivables impairment[50] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ended March 31, 2024, compared to no dividend in the previous year[3] - The company did not declare any dividends for 2024, consistent with 2023[24] - The board did not recommend any final dividend for the year ending March 31, 2024[57] - The annual report for the fiscal year 2023/2024 will be made available to shareholders at the appropriate time[74] - The company plans to hold its annual general meeting on September 11, 2024, with a notice to be published in due course[76] - The board expresses gratitude to shareholders, business partners, and customers for their support over the past year[77] Strategic Focus and Development - The company continues to focus on the sale of diesel, lubricants, and fleet card services, indicating a stable business model[8] - The company is committed to ongoing product and technology development to enhance market competitiveness[8] - The group remains cautiously optimistic about business prospects despite economic challenges, focusing on strategic planning and operational efficiency[37] - The group aims to maintain high standards and adapt to market dynamics to provide continuous value to stakeholders[39] Compliance and Governance - The company has applied new Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[11] - The audit committee consists of three independent non-executive directors, ensuring compliance with listing rules and corporate governance codes[72] - The group's financial statements for the year ending March 31, 2024, have been reviewed and confirmed to be consistent with the audited consolidated financial statements[73] Other Financial Information - Interest income from banks rose to HKD 495,000 in 2024, compared to HKD 187,000 in 2023, an increase of 164.2%[19] - The total financing costs decreased slightly to HKD 1,456,000 in 2024 from HKD 1,514,000 in 2023[21] - The deferred tax expense for 2024 was HKD 783,000, compared to HKD 780,000 in 2023, showing a marginal increase[23] - The company confirmed government subsidies totaling approximately HKD 121,000 related to IT solutions during the pandemic[19] - The group did not engage in any significant investments, acquisitions, or disposals of subsidiaries during the period[59] - The company’s property, plant, and equipment are solely located in Hong Kong, with no expansion into other regions reported[17] - The group's capital structure remained unchanged, with equity attributable to owners amounting to approximately HKD 220,000,000[63]
域高国际控股(01621) - 2024 - 年度业绩