Financial Performance - The total revenue for the year was approximately HKD 258,000,000, a slight decrease of about 0.4% compared to the previous year[10]. - The profit attributable to the owners of the company was approximately HKD 8,300,000, a decrease of about 34.6% from the previous year[10]. - The gross profit for the year was HKD 30,229,000, down from HKD 46,311,000 in the previous year[12]. - Total revenue for the year 2024 was HKD 257,992,000, a slight decrease from HKD 259,138,000 in 2023, representing a decline of approximately 0.45%[49]. - The company reported a net profit attributable to shareholders of HKD 8,279,000 for 2024, down from HKD 12,660,000 in 2023, indicating a decrease of 34.38%[61]. - The total profit and comprehensive income for the year decreased from approximately HKD 12,700,000 to about HKD 8,300,000, a reduction of approximately HKD 4,400,000, primarily due to increased direct costs and financing costs, as well as a decrease in subsidies received from the Hong Kong government's employment support scheme[130]. Expenses and Liabilities - The administrative expenses increased to HKD 34,977,000 from HKD 32,939,000 in the previous year[12]. - The financing costs rose to HKD 4,510,000 from HKD 2,601,000 in the previous year[12]. - The company incurred direct costs of HKD 39,480,000 in 2024, compared to HKD 34,562,000 in 2023, marking an increase of 14.00%[72]. - The interest expense on bank loans rose to HKD 4,435,000 in 2024 from HKD 2,470,000 in 2023, an increase of 79.73%[57]. - The group’s total liabilities include accrued expenses of HKD 7,221 thousand in 2024, up from HKD 4,832 thousand in 2023, indicating increased operational costs[83]. - The net current liabilities amounted to HKD 45,715,000, compared to HKD 15,536,000 in the previous year[14]. Assets and Equity - The total assets less current liabilities were HKD 172,087,000, an increase from HKD 163,943,000 in the previous year[16]. - The equity attributable to owners of the company increased to HKD 169,678,000 from HKD 161,399,000 in the previous year[16]. - Non-current assets as of March 31, 2024, were valued at HKD 97,461,000, up from HKD 93,405,000 in 2023, representing a growth of 4.56%[53]. - The group maintained a cash balance of approximately HKD 34.1 million as of March 31, 2024, down from HKD 68 million the previous year[112]. Revenue Sources - Major clients contributed significantly to revenue, with Client A generating HKD 106,902 thousand in 2024, up from HKD 64,834 thousand in 2023, representing a growth of approximately 65.1%[37]. - Revenue from building construction services increased significantly by approximately 96.4%, from about HKD 96.2 million to approximately HKD 188.9 million[106]. Dividends and Shareholder Returns - The company does not recommend the payment of a final dividend for the year[10]. - The company did not declare any dividends for the years ending 2024 and 2023, maintaining a consistent policy of no dividend distribution[60]. - The board does not recommend the payment of a final dividend for the year, which is zero for 2023[131]. Employee and Operational Insights - Total employee costs increased from HKD 52,446 thousand in 2023 to HKD 58,347 thousand in 2024, representing an increase of about 11.5%[74]. - The group employed 133 staff as of March 31, 2024, an increase from 99 in 2023, primarily due to the new contract obtained[137]. - The group is focused on recruiting and training young talent to develop expertise in the industry, addressing the aging workforce issue[87]. Market and Strategic Outlook - The group anticipates challenges in the construction market due to labor shortages and rising costs but remains cautiously optimistic about converting these challenges into opportunities[87]. - The group aims to modernize construction processes through innovative technologies and prefabrication methods, enhancing its capabilities in sustainable construction[87]. Accounting and Compliance - The group expects no significant impact on its consolidated financial statements from the application of other revised Hong Kong Financial Reporting Standards in the foreseeable future[29]. - The group has not early adopted any of the revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[27]. - The group has clarified the classification of liabilities as current or non-current based on the revised standards, which will not significantly affect its financial position[30].
德莱建业(01546) - 2024 - 年度业绩