Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,986,173, an increase of 33.7% compared to HKD 1,486,802 for the same period in 2023[2] - Gross profit for the period was HKD 41,138, slightly down from HKD 41,471 in the previous year, indicating a gross margin of approximately 2.1%[2] - Operating profit increased to HKD 19,018, up 43.5% from HKD 13,248 in the same period last year[2] - Net profit for the period was HKD 11,940, representing a 24.1% increase from HKD 9,613 in the prior year[3] - Basic earnings per share rose to HKD 2.94, compared to HKD 2.32 for the same period in 2023, reflecting a growth of 26.7%[2] - The total revenue for the period was HKD 1,986.17 million, an increase of approximately 33.59% compared to HKD 1,486.80 million in the same period last year[30] - Revenue from general building works rose by approximately 35.80% from HKD 1,180.99 million to HKD 1,603.76 million during the same period[37] - Revenue from civil engineering works increased by approximately 41.03% from HKD 213.94 million to HKD 301.73 million[37] - Other services contributed HKD 80.68 million, accounting for 4.06% of total revenue, down from 6.18% in the previous period[38] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,444,569, a decrease from HKD 1,867,979 at the end of 2023[4] - The total assets of the group reached HKD 1,513,386,000, with reportable segment assets of HKD 1,266,859,000[14] - The company reported cash and cash equivalents of HKD 198,436, down from HKD 348,960 at the end of 2023, suggesting a need for cash flow monitoring[4] - Current liabilities decreased to HKD 1,131,277 from HKD 1,551,097, indicating improved liquidity management[5] - The company’s non-current liabilities included bank loans of HKD 310,000, an increase from HKD 240,000 in the previous year[5] - The total liabilities of the group were HKD 1,146,265,000, including current tax liabilities of HKD 875,000 and deferred tax liabilities of HKD 2,066,000[14] - The company reported a total asset value of 1,941,936 thousand HKD as of December 31, 2023, with total liabilities amounting to 1,570,353 thousand HKD[15] Dividends and Shareholder Returns - The interim dividend declared was HKD 3.0 cents per share, amounting to HKD 12,000,000 for the six months ended June 30, 2024, consistent with the previous year[24] - The interim dividend for the fiscal year ending December 31, 2023, was declared at HKD 4.0 cents per share, totaling HKD 16,000,000[25] - The basic earnings per share for the six months ended June 30, 2023, was calculated based on a profit attributable to ordinary equity shareholders of 11,762 thousand HKD, compared to 9,295 thousand HKD for the same period in 2022[18] Operational Highlights - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming periods[1] - The group operates primarily in general building, civil engineering, and other services, with a focus on construction and maintenance projects[12] - The company continues to engage in construction and maintenance projects under the "SFK" brand in Hong Kong and Macau[29] - The company has a strong pipeline of projects, with ongoing large-scale construction and maintenance projects[30] - As of June 30, 2024, the company had a total of 11 general building projects and 18 civil engineering projects, with a total contract value of approximately HKD 18 billion[30] Financial Management and Governance - The group’s financial report is prepared in accordance with Hong Kong Financial Reporting Standards[9] - The group’s management has made judgments and estimates that may affect the reported amounts of assets, liabilities, income, and expenses[9] - The group’s financial performance and position may be significantly influenced by changes in accounting policies[11] - The audit committee has reviewed the accounting principles and practices adopted by the group, ensuring compliance with financial reporting standards[63] - The company has adopted corporate governance standards to ensure effective and transparent operations, maintaining high standards of corporate governance[58] Future Outlook - The local economy is expected to recover in 2024, with confidence in government measures to stimulate economic growth and ongoing commitments to land development and public housing[57] - The company plans to continue leveraging its competitive advantages to achieve long-term business objectives[57] Miscellaneous - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[11] - There have been no significant events requiring disclosure after June 30, 2024, indicating stable operations[62] - The company has not engaged in any buying, selling, or redeeming of its listed securities during the reporting period[61] - The company has implemented appropriate measures to fulfill internal audit functions despite not having an independent internal audit department[59] - The interim report will be available on the company's website and sent to shareholders, ensuring transparency in financial performance[66]
新福港(01447) - 2024 - 中期业绩