Revenue and Profitability - For the six months ended 30 September 2021, the Group's total revenue increased by 45.2% to approximately HK$145,531,000 from approximately HK$100,198,000 in the corresponding period last year[5]. - The Group's gross profit increased by approximately 18.3% to around HK$31,607,000, while the gross profit margin decreased by approximately 5.0 percentage points to about 21.7%[5]. - The increase in revenue was attributed to services rendered to major marine construction projects and other short-term marine services[5]. - The Group's profit attributable to owners increased by approximately 25.4%, from approximately HK$10,389,000 to approximately HK$13,033,000, with basic earnings per share rising from approximately HK1.04 cent to approximately HK1.30 cent[8]. - Profit before taxation increased to HK$18.6 million, up from HK$15.3 million in the prior year, representing a 22% growth[57]. - The profit for the period was HK$13,033,000, compared to HK$80,268,000 for the same period last year, indicating a decrease of approximately 83.8%[64]. Costs and Expenses - The cost of revenue rose by approximately 55.0% to about HK$113,924,000, primarily due to increased vessel chartering expenses payable to third-party vessel suppliers[5]. - Administrative expenses increased by approximately 9.3%, from approximately HK$15,774,000 to approximately HK$17,241,000, mainly due to increased staff costs and business development expenses[6]. - Finance costs decreased from approximately HK$52,000 to approximately HK$35,000, attributed to the recognition of interest on lease liabilities[6]. - The Group recognized nil impairment loss for trade receivables during the period, compared to HK$800,000 in the same period of 2020[134]. Assets and Liabilities - The Group had net current assets of approximately HK$135,401,000 as at 30 September 2021, with a current ratio decreasing from approximately 5.6 to approximately 3.6[9]. - The Group's gearing ratio was nil as at 30 September 2021, indicating no non-trade debt[9]. - The Group's trade and other receivables increased by approximately 2.7%, from approximately HK$74,834,000 to approximately HK$76,821,000[8]. - Total assets less current liabilities amounted to HK$254,141,000, an increase from HK$250,074,000 as of March 31, 2021, representing a growth of approximately 1.3%[62]. - The net cash from operating activities for the six months ended 30 September 2021 was HK$34,160,000, compared to HK$15,762,000 for the same period in 2020, indicating a significant increase of 116.5%[70]. Strategic Outlook and Investments - The Group expects steady growth in demand for vessel chartering and related services due to ongoing marine construction projects in Hong Kong[3]. - The Group plans to continue investing in its vessel fleet to capture business opportunities arising from marine construction projects[3]. - The company has allocated HKD 10 million for research and development in innovative maritime solutions for 2021[16]. - The Company plans to set up a shipyard in Hong Kong with a budget of HK$22 million, expected to be fully utilized by 2022[38]. Shareholder Information and Dividends - The board of directors has approved a dividend payout of HKD 0.05 per share, reflecting a 10% increase from the previous year[17]. - The Group declared a final dividend of HK1.3 cents per share, totaling HK$13,000,000, compared to HK$5,000,000 in the previous year[120]. Market and Competitive Position - The Group provided vessel chartering services mainly to marine construction contractors involved in significant projects such as the Three-Runway System at Hong Kong International Airport[3]. - The company is expanding its market presence by entering two new regional markets in Southeast Asia by the end of 2021[16]. - A strategic acquisition of a local competitor is planned, which is anticipated to enhance market share by 15%[16]. Financial Performance Metrics - The Group recorded other gains of approximately HK$3,607,000 for the Period, compared to approximately HK$1,000 for the corresponding period last year[6]. - The Group's identifiable non-current assets are principally located in Hong Kong, with no geographical segment information presented due to the concentration of revenue sources[105]. - The Group's share of results from associates amounted to HK$290, with other income reported at HK$390 and other gains and losses totaling HK$3,607[91].
润利海事(02682) - 2022 - 中期财报