Revenue and Profitability - Revenue for the six months ended September 30, 2019, was HK$3,118,787, a decrease of 9.9% from HK$3,459,535 in the same period of 2018[18] - Gross profit increased to HK$442,429, up 2.9% from HK$433,781 in the previous year[18] - Operating profit surged to HK$456,700, representing a significant increase of 106.5% compared to HK$220,946 in 2018[18] - Profit before taxation rose to HK$496,589, an increase of 83.4% from HK$270,601 in the prior year[18] - Profit attributable to shareholders was HK$414,897, up 113.0% from HK$194,038 in the same period last year[18] - Basic and diluted earnings per share increased to HK$1.37, compared to HK$0.64 in the previous year[18] - Profit for the period increased to HK$429,600,000, up 100.7% from HK$214,321,000 in the previous year[22] - Total comprehensive income for the period was HK$199,500,000, compared to a loss of HK$119,427,000 in the prior year[22] Financial Position - Non-current assets totaled HK$10,225,186,000, a decrease from HK$10,392,439,000 as of March 31, 2019[25] - Current liabilities amounted to HK$3,648,137,000, down from HK$4,250,373,000 in the previous period[27] - Net current assets increased to HK$2,957,625,000, compared to HK$2,450,505,000 as of March 31, 2019[27] - Shareholders' funds rose to HK$9,115,987,000, up from HK$9,021,484,000 in the previous year[27] - The company reported a total equity of HK$9,335,740,000 as of September 30, 2019[31] - The company’s total assets less current liabilities increased to HK$13,182,811,000 from HK$12,842,944,000[27] Cash Flow and Financing - For the six months ended September 30, 2019, cash generated from operations was HK$99,773,000, a decrease from HK$134,917,000 in the same period of 2018[34] - The net cash used in operating activities was HK$853,000, compared to a net cash inflow of HK$34,837,000 in the previous year[34] - Cash and cash equivalents at the end of the period rose to HK$2,179,369,000, up from HK$1,533,598,000, marking a 42% increase[35] - Net cash used in financing activities was HK$370,871,000, compared to a net cash inflow of HK$337,841,000 in the previous year[35] - The drawn down of bank and other borrowings was HK$117,902,000, significantly lower than HK$5,903,725,000 in the previous year[35] - Repayments of bank and other borrowings totaled HK$351,113,000, compared to HK$5,477,025,000 in the previous year[35] Segment Performance - The construction and engineering segment generated a profit of HK$179,837, while the healthcare investment segment reported a loss of HK$18,848[65] - Revenue from contracts with customers recognized over time amounted to HK$1,677,371, with additional revenue from other sources totaling HK$1,304,619[65] - The healthcare investment segment's revenue was HK$479,519, reflecting its contribution to the overall group performance[65] - The total segment profit for the group was HK$554,923, showcasing overall profitability despite losses in certain segments[65] - Segment profit for the same period was HK$554,923,000, up from HK$339,140,000 in the prior year, indicating a growth of approximately 63.7%[73] Accounting Policies and Changes - The company is assessing the impact of new accounting standards effective from 1 January 2020 and 1 January 2021 on its financial statements[41] - The adoption of amendments to existing standards did not have a significant impact on the Group's consolidated results and financial position[40] - The Group adopted HKFRS 16 "Leases" retrospectively from April 1, 2019, without restating comparative information for prior periods[47] - Lease liabilities increased by HK$75,966,465 as a result of the adoption of HKFRS 16[50] - Property, plant and equipment (including right-of-use assets) increased by HK$76,388,216 on the consolidated statement of financial position as of April 1, 2019[50] Market and Economic Conditions - The local property market is expected to be affected by a slowing economy in Mainland China and ongoing social unrest in Hong Kong[192] - The increasing ageing population in the US is expected to drive demand for senior housing services, positively impacting the healthcare investment business[197] - Management is confident that the group's performance will remain stable in the second half of the financial year due to diversified business portfolios[198] Dividends and Shareholder Returns - The interim dividend declared was HK$0.20 per share, an increase from HK$0.15 per share in 2018, representing a rise of 33.3%[113] - The company paid dividends of HK$296,181,000 for the year ended March 31, 2019[31] - Dividends paid increased to HK$105,675,000 from HK$75,482,000, representing a 40% increase year-over-year[35] Risks and Liabilities - The company recognized a provision for inventories amounting to HK$1,600, indicating potential write-downs in inventory value[65] - The provision for impairment on trade debtors increased to HK$31,606,000 as of September 30, 2019, compared to HK$30,865,000 as of March 31, 2019[124] - The accrued contract costs decreased to HK$1,064,580,000 as of September 30, 2019, down from HK$1,246,367,000 as of March 31, 2019[129]
CHEVALIER INT'L(00025) - 2020 - 中期财报