Financial Performance - Total revenue for the year ended March 31, 2024, increased by 171.1% to HK$789.3 million, compared to HK$291.1 million in 2023[14]. - Revenue from hotels and serviced apartments rose by 62.3% to HK$330.1 million, up from HK$203.4 million in the previous year[16]. - Gaming revenue surged by 423.6% to HK$459.2 million, compared to HK$87.7 million in 2023[16]. - The Group recorded a net profit of HK$62.8 million, a turnaround from a net loss of HK$128.0 million in 2023[16]. - Basic earnings per share improved to HK$0.05, compared to a basic loss of HK$0.08 per share in the previous year[14]. Visitor and Tourism Trends - Visitor arrivals to Macau increased by 266.4% to 32.1 million during the year[18]. - The gross gaming revenue in Macau rose to HK$206.4 billion, reflecting a 245.6% increase compared to the previous period[18]. - The Hong Kong Tourism Board reported over 40.8 million tourists visited Hong Kong during the year, gradually recovering to pre-pandemic levels[17]. - The Group benefited from the revival in visitor arrivals and a recovery in hospitality and entertainment demand[16]. - The Hong Kong government launched effective campaigns to attract tourists, contributing to the recovery of the tourism sector[17]. Revenue Breakdown - The Group's hotel and serviced apartments revenue increased by 62.3% to HK$330.1 million, accounting for 41.8% of total revenue[37]. - Room revenue rose to HK$166.2 million, up from HK$85.2 million, while food and beverage revenue increased to HK$114.5 million from HK$74.0 million[39]. - Gaming revenue surged over 423.6% to HK$459.2 million, representing 58.2% of the Group's total revenue[40]. - The number of visitors to Macau increased by 266.4% to 32.1 million, contributing to the growth in gaming revenue[40]. Operational Overview - The Group operates a total of six hotels and serviced apartments in Hong Kong and Macau, including the Emperor Hotel and Grand Emperor Hotel[22]. - The Emperor Hotel features 299 guest rooms and has a gross floor area of approximately 115,700 square feet[22]. - The Inn Hotel in Macau has a gross floor area of approximately 209,000 square feet and 285 guest rooms, expanding the Group's market coverage[35]. - The Unit Morrison Hill offers 18 serviced apartments, catering to business travelers and expats[25]. - The Group's strategic focus includes enhancing hospitality services and expanding its portfolio to capture market potential in Macau[35]. Financial Position - As of March 31, 2024, the Group's bank balances and cash totaled HK$645.8 million, up from HK$503.3 million in 2023, indicating a 28.3% increase[47]. - Current assets increased to HK$705.4 million in 2024 from HK$566.8 million in 2023, representing a 24.5% growth, while current liabilities decreased to HK$200.8 million from HK$253.2 million, a reduction of 20.7%[48]. - The Group maintained a net cash position as of March 31, 2024, resulting in a zero gearing ratio, consistent with the previous year[48]. - The Group has pledged assets valued at approximately HK$600.1 million as of March 31, 2024, for a banking facility of HK$419.7 million, which remained undrawn[49]. Employee and Compensation - The Group's total staff costs for the year were HK$296.2 million, an increase from HK$257.4 million in 2023, reflecting a 15% rise in personnel expenses[56]. - The number of employees increased to 630 in 2024 from 517 in 2023, indicating a growth of 21.8% in workforce size[56]. - Employee compensation is determined based on individual responsibilities, skills, experience, and market salary levels[59]. - The company has adopted a share option scheme to encourage and reward employees[59]. Dividends and Reserves - The Group's final dividend proposed for the Year is HK$0.015 per share, totaling approximately HK$17,830,000, compared to nil in 2023[79]. - As of March 31, 2024, the Company's reserves available for distribution amount to HK$969,900,000, an increase from HK$935,127,000 in 2023[104]. - The Group's share premium account remains unchanged at HK$436,765,000, which may be distributed as fully paid bonus shares[104]. Corporate Governance - The Company fully complied with all code provisions of the Corporate Governance Code during the year[186]. - The Board currently comprises six Directors, including one Non-executive Director, two Executive Directors, and three Independent Non-executive Directors[195]. - The management is responsible for shaping the corporate culture and defining the strategic direction of the Group[193]. - The Company is committed to a corporate culture focusing on customer centricity, excellence in services, people first, and positivity[187]. Strategic Initiatives - The Group anticipates continued growth in outbound tourism from Mainland China, supported by improved infrastructure and government initiatives[42]. - The Group's strategic initiatives include capitalizing on brand reputation and management expertise to solidify its market position[44]. - The Group's management team is focused on enhancing guest experience and customer segmentation to strengthen market presence[44]. - The Group is optimistic about the sustainable long-term growth of the Macau market, supported by improved transportation infrastructure and diverse leisure offerings[43].
英皇娱乐酒店(00296) - 2024 - 年度财报