Financial Performance - Revenue for the year ended March 31, 2024, was approximately HKD 199.3 million, a decrease of about 38.9% compared to HKD 326.5 million for the year ended March 31, 2023[3] - Gross profit for the year was approximately HKD 4.6 million, compared to HKD 4.0 million for the previous year, indicating an increase[3] - Profit attributable to equity holders of the company for the year was approximately HKD 2.4 million, up from HKD 810,000 in the previous year[3] - Basic earnings per share for the year were approximately HKD 0.20, compared to HKD 0.07 for the year ended March 31, 2023[3] - The company reported a net profit of approximately HKD 2.4 million for the period, an increase of about HKD 1.6 million compared to the previous period, primarily due to an overprovision for Hong Kong profits tax of approximately HKD 1.8 million from prior years[39] - The total profit and comprehensive income attributable to equity holders of the company was approximately HKD 2.4 million, an increase of about HKD 1.6 million compared to the previous fiscal year[48] Revenue Breakdown - Revenue from private projects in 2024 was HKD 53,752,000, significantly up from HKD 11,485,000 in 2023[27] - Revenue from public projects in 2024 was HKD 145,592,000, down from HKD 315,007,000 in 2023[27] - The group recognized revenue of HKD 102,068,000 from past performance obligations in 2024, a decrease of 56% from HKD 231,865,000 in 2023[29] - Revenue from foundation engineering services reached approximately HKD 199.3 million, a decrease of about HKD 127.1 million or 38.9% compared to approximately HKD 326.5 million for the year ended March 31, 2023[41] Assets and Liabilities - Total assets as of March 31, 2024, were approximately HKD 194.5 million, an increase from HKD 185.9 million as of March 31, 2023[6] - Current liabilities as of March 31, 2024, were approximately HKD 101.4 million, compared to HKD 96.5 million in the previous year[6] - The company's net asset value as of March 31, 2024, was approximately HKD 88.1 million, slightly up from HKD 85.7 million in the previous year[6] - The group's asset-liability ratio was approximately 50.3% as of March 31, 2024, up from 49.6% in the previous year, primarily due to an increase in total liabilities of about HKD 1.8 million[51] Expenses - The group reported other income of approximately HKD 15.5 million for the year, down from HKD 17.5 million in the previous year[4] - Administrative expenses for the year were approximately HKD 21.5 million, a decrease from HKD 22.3 million in the previous year[4] - Employee costs, including director remuneration, totaled HKD 72,130,000 in 2024, down from HKD 88,746,000 in 2023, representing a decrease of 19%[30] - The total employee cost, including director remuneration, was approximately HKD 72.1 million, down from HKD 88.7 million in the previous year[62] Accounting Standards and Policies - The group has applied new and revised Hong Kong Financial Reporting Standards starting from January 1, 2023, with no significant impact on the financial position and performance for the current and prior years[11] - The revision of Hong Kong Accounting Standard 8 clarifies the definition of accounting estimates as monetary amounts subject to measurement uncertainty[12] - The application of the revised Hong Kong Accounting Standard 1 and Practical Guide 2 has changed the terminology from "major accounting policies" to "key accounting policy information" without significant impact on the financial statements[14] - The group expects no significant impact from the changes in accounting policies on the consolidated financial statements for the current year[21] - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective[23] Future Outlook - The board remains cautiously optimistic about the company's future financial performance, expecting stability and profit growth[39] - The group continues to maintain a conservative policy in cash and financial management, closely monitoring its liquidity to meet business development needs[52] Corporate Governance - The board of directors did not recommend the payment of a final dividend for the year, consistent with the previous year[3] - The group did not recommend the payment of a final dividend for the reporting period, consistent with the previous year[65] - The company has adopted the "Standard Code" for directors' securities trading as per the listing rules, confirming full compliance by all directors during the relevant period[67] - The audit committee, consisting of three independent non-executive directors, has reviewed the company's annual performance and confirmed compliance with applicable accounting standards and regulations[76] - The external auditor has reviewed the consolidated financial statements for the relevant period, confirming consistency with the draft financial statements[77] - The company maintains sufficient public float as per the listing rules, ensuring compliance during the relevant period[75] Meetings and Reports - The annual general meeting is scheduled for August 13, 2024, with a suspension of share transfer registration from August 8 to August 12, 2024, to determine voting eligibility[72] - The annual report for the relevant period will be sent to shareholders and published on the company's and the stock exchange's websites at an appropriate time[80]
俊裕地基(01757) - 2024 - 年度业绩