Revenue and Profit - Revenue for the six months ended June 30, 2024, was approximately HKD 1,291.1 million, an increase of 16.6% compared to the same period last year[1]. - Profit for the period was approximately HKD 25.8 million, reflecting an increase of 18.5% year-on-year[3]. - Gross profit increased by approximately 12.4% to about HKD 97.1 million[3]. - The cleaning business, as the core operation, recorded a revenue increase of 20.1% to approximately HKD 1,034.9 million, accounting for about 80.2% of total revenue[3]. - Waste management and recycling business revenue grew by approximately 7.4% to about HKD 147.3 million, representing about 11.4% of total revenue[3]. - The gross profit from waste management and recycling increased by approximately 60.7% to about HKD 19.2 million, driven by the "Plastic Recycling Pilot Program" and increased government contracts[3]. - The overall gross profit increased from approximately HKD 86.4 million to HKD 97.1 million, marking a 12.4% rise[14]. - Operating profit for the period was approximately HKD 37.2 million, compared to HKD 31.8 million in the previous year[31]. - Profit attributable to equity shareholders for the six months ended June 30, 2024, was approximately HKD 24.3 million, an increase of about 11.2% from HKD 21.8 million in 2023[20]. - The company’s total comprehensive income for the period was HKD 20,240,000, compared to HKD 21,734,000 in the previous year, reflecting a decrease of 6.9%[36]. Financial Position - The current ratio as of June 30, 2024, was approximately 1.3 times, up from 1.2 times as of December 31, 2023, indicating a healthy liquidity position[22]. - Total liabilities to total assets ratio was approximately 0.4 times as of June 30, 2024, down from 0.6 times as of December 31, 2023[23]. - The company employed 10,380 staff as of June 30, 2024, with total employee costs amounting to approximately HKD 1,057.3 million, compared to HKD 899.0 million for the same period in 2023[30]. - The company's total assets as of June 30, 2024, were HKD 977,372,000, a decrease from HKD 1,011,393,000 as of December 31, 2023[44]. - The total liabilities as of June 30, 2024, were HKD 600,047,000, compared to HKD 641,692,000 as of December 31, 2023[44]. - The net current assets increased to HKD 134,537,000 from HKD 108,038,000, an increase of 24.6%[34]. - The company's total liabilities decreased to HKD 534,263,000 from HKD 575,950,000, a reduction of 7.3%[34]. Cash Flow and Expenses - Cash generated from operating activities for the period was approximately HKD 145.8 million, compared to HKD 111.0 million in the first half of 2023, with available cash and bank balances increasing by approximately 84.3% to HKD 76.3 million[22]. - Financial costs for the same period were approximately HKD 5.7 million, up from HKD 5.3 million, accounting for about 0.4% and 0.5% of total revenue respectively, primarily due to increased bank borrowing rates[19]. - Administrative expenses for the six months ended June 30, 2024, were approximately HKD 61.5 million, an increase of about 8.8% compared to HKD 56.5 million for the same period in 2023, representing approximately 4.8% and 5.1% of total revenue respectively[18]. - The cash flow used in investing activities was HKD (8,163,000), significantly improved from HKD (36,937,000) in the previous year, indicating a reduction in cash outflow by 77.9%[37]. Market and Business Development - The group is expanding its smart recycling systems and plans to increase the market share of smart recycling machines and smart food waste recycling machines[4]. - A biochar factory in collaboration with Jardine Matheson has commenced trial operations, converting landscaping waste into high-quality biochar[4]. - The company plans to expand its market share and explore potential mergers and acquisitions to accelerate future growth[11]. - The government is promoting a new recycling initiative expected to significantly increase the recycling rates of plastic beverage containers and paper drink boxes, benefiting the company's recycling operations[10]. Shareholder Information - The company declared an interim dividend of HKD 0.034 per share for the six months ended June 30, 2024, down from HKD 0.038 per share in the same period of 2023, which is a decrease of about 10.5%[50]. - Basic and diluted earnings per share for the period were 5.85 HKD cents, up from 5.26 HKD cents in 2023[33]. - The basic earnings per share for the six months ended June 30, 2024, was HKD 0.0585, compared to HKD 0.0525 for the same period in 2023, reflecting a growth of around 11.4%[51].
碧瑶绿色集团(01397) - 2024 - 中期业绩