Financial Performance - For the six months ended September 30, 2024, Vicon Holdings Limited reported revenue of HKD 165,888,000, a decrease of 50.4% compared to HKD 334,021,000 for the same period in 2023[2] - Gross profit for the same period was HKD 12,190,000, down 45.4% from HKD 22,440,000 year-on-year[2] - Operating profit decreased to HKD 7,799,000, a decline of 7.8% from HKD 8,457,000 in the previous year[2] - Profit attributable to owners of the company was HKD 6,420,000, down 9.9% from HKD 7,126,000 in the prior year[2] - Basic earnings per share for the period was HKD 1.34, compared to HKD 1.49 for the same period last year, reflecting a decrease of 10.1%[2] - The group reported a profit before tax of HKD 7,501,000 for the six months ended September 30, 2024, compared to HKD 8,160,000 for the same period in 2023[23] - The net profit for the six months ended September 30, 2024, was HKD 6,420,000, a decrease of 10% from HKD 7,126,000 in the same period of 2023[33] - Basic earnings per share for the six months ended September 30, 2024, was HKD 1.34, down from HKD 1.49 for the same period in 2023[33] Revenue Breakdown - Revenue from construction contracts for the six months ended September 30, 2024, was HKD 163,375,000, a decrease of 51% compared to HKD 332,636,000 for the same period in 2023[19] - Revenue from construction machinery leasing for the six months ended September 30, 2024, was HKD 2,513,000, an increase of 81% compared to HKD 1,385,000 for the same period in 2023[19] - Total revenue for the six months ended September 30, 2024, was HKD 165,888,000, down 50% from HKD 334,021,000 in the same period of 2023[19] - The company engaged in 8 projects contributing approximately HKD 163.4 million in revenue, down from 9 projects contributing HKD 332.6 million in the previous period[48] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 261,990,000, an increase of 2.3% from HKD 256,025,000 as of March 31, 2024[3] - Current assets net of current liabilities increased to HKD 225,769,000, up 5.4% from HKD 214,138,000[3] - The company reported a decrease in trade receivables and contract assets to HKD 62,913,000 from HKD 105,100,000, a decline of 40.0%[3] - Non-current liabilities increased to HKD 338,000 from HKD 41,000, indicating a significant rise in lease liabilities[3] - Non-current assets in Hong Kong as of September 30, 2024, were HKD 39,102,000, a decrease from HKD 43,047,000 as of March 31, 2024[30] - Trade receivables as of September 30, 2024, were HKD 37,386,000, down from HKD 75,222,000 as of March 31, 2024[37] - Trade receivables as of September 30, 2024, amounted to HKD 32.2 million, a decrease from HKD 72.7 million as of March 31, 2024[40] - Trade payables as of September 30, 2024, were HKD 22.3 million, down from HKD 29.5 million as of March 31, 2024[42] Cash Flow and Financial Ratios - The company's cash and cash equivalents were approximately HKD 34.1 million as of September 30, 2024, down from HKD 35.6 million as of March 31, 2024[63] - The current ratio improved to approximately 7.2 times as of September 30, 2024, compared to 6.1 times as of March 31, 2024[63] - The company's capital structure included equity of approximately HKD 272.9 million as of September 30, 2024, up from HKD 266.5 million as of March 31, 2024[62] - The company maintained a debt-to-equity ratio of approximately 2.9% as of September 30, 2024, unchanged from March 31, 2024[68] - The average interest rate on short-term bank loans was 4.96% as of September 30, 2024, down from 5.13% as of March 31, 2024[67] Corporate Governance and Dividends - The group did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[36] - No interim dividend is recommended for the six months ending September 30, 2024, consistent with the previous period where no dividend was declared[89] - The audit committee, composed of three independent non-executive directors, has been established and operates under the Listing Rules[90] - The independent auditor has not reviewed the unaudited condensed consolidated interim financial information for the six months ending September 30, 2024, but the audit committee has confirmed its compliance with applicable accounting standards[92] Market Challenges and Strategy - The company is facing challenges in the construction market due to a decrease in private sector foundation contract tenders and increased competition[81] - The company is focused on submitting tenders for multiple foundation projects and enhancing cost control measures to achieve stable revenue[81] - The company continues to focus on foundation engineering and construction machinery leasing, with no new product launches or major acquisitions reported during the period[5] - The company has no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[77] Impairment and Expenses - The impairment loss on financial assets was approximately HKD 1.5 million, a decrease from HKD 10.2 million in the previous period, reflecting improved credit risk assessments[56] - Administrative expenses decreased from approximately HKD 5.0 million to about HKD 4.5 million, a reduction of approximately 10% due to a contraction in the company's operational scale[58] - The company provided guarantees for performance bonds amounting to approximately HKD 21.6 million as of September 30, 2024, compared to HKD 19.9 million as of March 31, 2024[44]
VICON HOLDINGS(03878) - 2025 - 中期业绩