Financial Performance - The company's revenue for the six months ended September 30, 2021, increased to approximately HKD 164.3 million, up 7.6% from HKD 152.7 million for the same period in 2020[6][14]. - Net profit for the same period rose to approximately HKD 9.1 million, compared to HKD 6.5 million in the previous year[6]. - Gross profit rose by approximately HKD 8.2 million or 34.5% to about HKD 31.7 million for the six months ended September 30, 2021, with the gross profit margin increasing from approximately 15.4% to about 19.3%[24]. - The total comprehensive income attributable to owners of the company for the period was HKD 9,118,000, compared to HKD 6,476,000 in 2020, indicating a growth of 40.3%[91]. - Basic and diluted earnings per share increased to HKD 1.14 from HKD 0.81, representing a rise of 40.7%[91]. - The company achieved a profit before tax of HKD 9,248,000, up from HKD 6,308,000 in the previous year, marking an increase of 46.4%[91]. - The company reported a pre-tax profit of HKD 9,248,000 for the six months ended September 30, 2021, compared to HKD 6,308,000 for the same period in 2020[121]. Revenue Breakdown - Revenue from construction contracts remained stable at approximately HKD 127.4 million, while sales of building materials contributed HKD 36.9 million[16][19]. - Revenue from building materials increased by approximately HKD 16.0 million or 76.6% to about HKD 36.9 million for the six months ended September 30, 2021, compared to approximately HKD 20.9 million for the same period in 2020[20]. - Revenue from construction materials sales was HKD 36,915,000, up from HKD 20,907,000, representing a 76.6% increase year-over-year[121]. - Revenue from construction and engineering services was HKD 127,354,000, down from HKD 131,820,000, a decrease of 3.5% compared to the previous year[121]. Expenses and Costs - Selling and distribution expenses surged by approximately HKD 2.7 million or 92.1% to about HKD 5.6 million for the six months ended September 30, 2021, primarily due to high shipping costs resulting from the ongoing COVID-19 pandemic[28]. - Administrative expenses increased by approximately HKD 2.3 million or 16.0% to about HKD 16.5 million for the six months ended September 30, 2021, mainly due to an increase in average employee numbers and salaries[29]. - The company incurred finance costs of HKD 553,000, a decrease from HKD 907,000 in the previous year, showing a reduction of 39.0%[91]. - Interest expenses for bank borrowings were HKD 548,000 for the six months ended September 30, 2021, down from HKD 897,000 in the previous year, a decrease of 38.8%[127]. Assets and Liabilities - Total equity as of September 30, 2021, was approximately HKD 157.7 million, up from approximately HKD 156.5 million as of March 31, 2021[35]. - Current assets net value was approximately HKD 97.1 million as of September 30, 2021, compared to approximately HKD 95.2 million as of March 31, 2021[35]. - The debt-to-equity ratio increased to 24.8% as of September 30, 2021, from 23.3% as of March 31, 2021[39]. - The total assets as of September 30, 2021, amounted to HKD 238,305,000, an increase from HKD 233,327,000 as of March 31, 2021[123]. - The total liabilities as of September 30, 2021, were HKD 80,640,000, compared to HKD 76,780,000 as of March 31, 2021, indicating an increase of 5.4%[123]. Market and Business Outlook - The overall market outlook for the construction industry in Hong Kong is expected to improve, benefiting the company in the long term[13]. - The company is exploring vertical integration opportunities in the renovation industry to diversify its business segments[11]. - The company anticipates continued demand for its gypsum board products due to heightened quality standards in the construction industry[10]. - The company noted a significant decrease of over 50% in revenue from wood flooring projects due to competitive pricing strategies and project delays[7][19]. Shareholder and Corporate Governance - A mid-term dividend of HKD 0.75 per share was declared, compared to zero for the six months ending September 30, 2020[75]. - The company has maintained high levels of corporate governance to protect shareholder interests and enhance corporate value[69]. - The company’s issued and paid-up share capital remained at HKD 8,000,000 as of September 30, 2021, with 800,000,000 shares issued[159]. Risks and Contingencies - The group faced significant cash flow risks due to potential delays in project payments, which could adversely affect its financial condition[45]. - The group reported contingent liabilities related to performance guarantees of approximately HKD 12.8 million as of September 30, 2021, an increase from HKD 10.4 million as of March 31, 2021[43]. - The group continues to monitor foreign exchange risks as some transactions are denominated in currencies other than its functional currency, the Hong Kong dollar[51]. - The group is exposed to uncertainties in the business environment due to the impact of COVID-19 and other socio-economic factors affecting the construction and property development sectors in Hong Kong[58]. Investments and Acquisitions - The company has not made any significant investments, acquisitions, or disposals of subsidiaries during the six months ended September 30, 2021[61]. - The company invested approximately HKD 736,000 in the acquisition of vehicles and office equipment for the six months ended September 30, 2021, compared to HKD 444,000 for the same period in 2020[139].
乙德投资控股(06182) - 2022 - 中期财报