Financial Performance - The company reported unaudited consolidated revenue of HKD 18,554,000 for the three months ended March 31, 2019, representing a 9.97% increase from HKD 16,872,000 in the same period of 2018[3]. - The company recorded a pre-tax profit of HKD 577,000, down from HKD 772,000, reflecting a decrease of 25.2%[3]. - The net profit for the period was HKD 226,000, compared to HKD 128,000 in the previous year, marking a 76.56% increase[3]. - Total profit and comprehensive income increased by approximately HKD 98,000 or 76.6% to HKD 226,000 for the three months ended March 31, 2019[37]. - The company experienced a decline in total profit and comprehensive income when excluding non-recurring listing expenses from the previous year, dropping by approximately HKD 2,890,000 or 92.7%[37]. Revenue Breakdown - Revenue from recruitment services in Hong Kong was HKD 10,338,000, up from HKD 8,522,000, a rise of 21.3%[16]. - Revenue from dispatch and payroll services in Hong Kong was HKD 7,440,000, slightly down from HKD 7,519,000, a decrease of 1.05%[16]. - Revenue from dispatch and payroll services in Macau decreased to HKD 776,000 from HKD 831,000, a decline of 6.6%[16]. - Revenue from recruitment services rose by approximately HKD 1,816,000 or 21.3% to approximately HKD 10,338,000, while dispatch and payroll services slightly decreased by HKD 134,000 or 1.6% to approximately HKD 8,216,000[29]. - Approximately 95.8% of the company's revenue for the three months ended March 31, 2019, was derived from Hong Kong, compared to 95.1% in 2018[29]. Employee Costs - Employee costs rose to HKD 14,391,000, up from HKD 11,492,000, indicating a 25.5% increase[3]. - Employee costs for the three months ended March 31, 2019, were approximately HKD 14,391,000, representing 77.6% of revenue, compared to 68.1% in 2018[30]. - Employee costs increased by approximately HKD 2,899,000 or 25.2% to HKD 14,391,000 for the three months ended March 31, 2019, primarily due to an increase in internal staff for business expansion[32]. Other Income and Expenses - Other income increased to HKD 65,000 from HKD 3,000 year-on-year[3]. - Other expenses and losses rose by approximately HKD 2,052,000 to HKD 3,514,000, mainly due to depreciation, rent, and professional fees related to the new office and business expansion[33]. - Income tax expenses decreased by approximately HKD 293,000 or 45.5% to HKD 351,000, attributed to a decline in estimated taxable profits from subsidiaries[35]. Shareholder Information - Major shareholders, including KJE Limited and Caiden Holdings Limited, each hold approximately 75% of the issued share capital, totaling 600,000,000 shares[42]. - The average number of ordinary shares used for calculating basic earnings per share increased from 600,000 shares in 2018 to 800,000 shares in 2019[21]. - The company has adopted a share option scheme since September 13, 2018, but no options have been granted under this scheme[44]. Dividends and Corporate Governance - The company does not recommend the payment of an interim dividend for the three months ended March 31, 2019, consistent with 2018[19]. - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the three months ended March 31, 2019[50]. - The audit committee, consisting of three independent non-executive directors, was established on September 13, 2018, and has reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2019[53][55]. Future Outlook - The company anticipates maintaining a significant market share and seizing market opportunities for sustainable business development[26]. - Management plans to focus on expanding service offerings, broadening the customer base, and upgrading software and network systems to mitigate potential business risks[25]. - The company aims to leverage its strong customer base and brand recognition in Hong Kong to expand services to relevant regions in the future[27].
高奥士国际(08042) - 2019 Q1 - 季度财报