Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 46,479 million, a slight increase of 0.48% compared to HKD 46,256 million for the same period in 2023[1] - The company's profit before tax was HKD 9,431 million, representing a significant increase of 123.5% from HKD 4,228 million in the previous year[1] - The net profit for the period was HKD 6,948 million, up from HKD 2,180 million, indicating a growth of 218.5% year-over-year[1] - Basic earnings per share increased to HKD 1.74, compared to HKD 0.55 for the same period last year, reflecting a growth of 215.5%[1] - The group reported a net profit of 29,826 thousand Ringgit for the six months ended June 30, 2024, compared to 32,209 thousand Ringgit for the same period in 2023, reflecting a decrease of approximately 11%[14] - For the six months ended June 30, 2024, the group recorded a net profit of approximately MYR 6.95 million, an increase of about RM 4.77 million compared to RM 2.18 million for the same period in 2023[29] - Revenue for the six months ended June 30, 2024, was approximately RM 46.48 million, representing an increase of about 0.48% from RM 46.26 million in the same period of 2023[29] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 56,560 million, down from HKD 61,824 million at the end of 2023, a decrease of 8.5%[2] - The company's net current assets decreased to HKD 36,930 million from HKD 40,313 million, a decline of 8.5%[2] - The total equity as of June 30, 2024, was HKD 46,093 million, down from HKD 48,953 million at the end of 2023, a decrease of 5.8%[2] - The group’s total lease liabilities amounted to approximately MYR 7.23 million as of June 30, 2024, with an average effective interest rate of 4.72%[39] - The group had total bank financing available and unused amounting to approximately MYR 15.91 million, with an average effective interest rate of 4.17%[39] - The group’s debt-to-equity ratio was approximately 16.1% as of June 30, 2024, compared to 14.0% as of December 31, 2023[41] Expenses and Costs - The group incurred total operating expenses of 5,806 thousand Ringgit for the six months ended June 30, 2024, an increase from 5,431 thousand Ringgit in the same period of 2023, representing a rise of about 7%[12] - The income tax expense for the six months ended June 30, 2024, was 2,483 thousand Ringgit, compared to 2,048 thousand Ringgit for the same period in 2023, indicating an increase of approximately 21%[13] - Employee costs decreased by approximately RM 2.38 million or 7.39% to about RM 29.83 million for the six months ended June 30, 2024, compared to RM 32.21 million in the same period of 2023[33] - The group’s employee costs, including directors' remuneration, amounted to 29,826 thousand Ringgit for the six months ended June 30, 2024, down from 32,209 thousand Ringgit in the previous year, a decrease of about 7%[14] - Other operating expenses increased by approximately RM 0.38 million or 7.00% to about RM 5.81 million, primarily due to increased costs related to short-term leases and software maintenance licenses[35] Accounting Standards and Governance - The company has adopted new accounting standards effective January 1, 2024, which may impact future financial reporting[5] - The group has not made any retrospective adjustments due to the adoption of the revised Hong Kong Accounting Standard No. 1, and there were no significant changes in the classification of borrowings[6] - The group anticipates that the amendments to Hong Kong Accounting Standard No. 21, effective from January 1, 2025, will not have a significant impact on the consolidated financial statements[7] - The Audit Committee, established on June 14, 2017, includes three independent non-executive directors and has reviewed the interim results as of June 30, 2024, without raising any objections to the accounting treatment adopted by the group[61] - The company has maintained good corporate governance standards and procedures to enhance investor confidence and accountability[60] Market and Operational Insights - The company continues to focus on providing external telemarketing services and customer contact center facilities, promoting financial products and related activities[3] - The company is exploring market expansion opportunities and potential mergers and acquisitions to enhance its service offerings[3] - The average number of service seats per month remained stable at approximately 1,111 for the six months ended June 30, 2024, compared to about 1,114 for the same period in 2023[30] - The average revenue per seat per month increased slightly from RM 6,920 to RM 6,972 for the same periods[30] - The group expects a reduction in credit risk related to loan recoveries due to the economic recovery in Malaysia and partial loan repayments[14] Cash Flow and Dividends - The group generated net cash inflow from operating activities of approximately MYR 6.58 million for the six months ended June 30, 2024, compared to MYR 4.01 million for the same period in 2023[38] - A special dividend of 0.024 MYR per share was approved and paid on July 16, 2024[55] - The company did not declare an interim dividend for the six months ended June 30, 2024, and 2023[16] Other Notable Information - The company has not made any significant acquisitions or disposals as of June 30, 2024[53] - The group has no significant capital commitments or contingent liabilities as of June 30, 2024[43] - The group has no significant investments as of June 30, 2024[51] - No significant events occurred after June 30, 2024, until the date of this announcement[56] - As of June 30, 2024, the company and its subsidiaries did not buy, sell, or redeem any listed securities[57]
UTS MARKETING(06113) - 2024 - 中期业绩