Financial Performance - Total revenue for the six months ended September 30, 2024, increased by 9.7% to HKD 407,909,000 compared to HKD 371,837,000 in 2023[5] - The group recorded a net loss of HKD 225,686,000, compared to a net profit of HKD 12,092,000 in the same period last year[3] - The gross profit for the six months ended September 30, 2024, was HKD 159,839,000, compared to HKD 133,690,000 in 2023, indicating a year-over-year increase of about 19.6%[27] - The company reported a loss before tax of HKD 221,596,000 for the period, a significant decline from a profit of HKD 19,660,000 in the previous year[27] - The company reported a basic loss per share of HKD 0.15 for the six months ended September 30, 2024, compared to earnings of HKD 0.01 per share in the same period last year[27] - The group reported an adjusted EBITDA of HKD 99,542,000 for the six months ended September 30, 2024, compared to HKD 81,077,000 in the previous year, representing a growth of approximately 22.8%[47] - The group’s pre-tax loss for the period was HKD 221,596,000, compared to a pre-tax profit of HKD 19,660,000 in the previous year[47][50] - The company reported a pre-tax loss of HKD 177,883,000 for the six months ended September 30, 2024, compared to a profit of HKD 11,822,000 in the same period of 2023[58] Revenue Breakdown - Gaming revenue rose by 17.3% to HKD 253,000,000, accounting for 62.0% of total revenue, up from 58.0% in 2023[15] - The group’s hotel and rental apartment revenue was HKD 154,900,000, representing 38.0% of total revenue, down from 42.0% in 2023[14] - Hotel revenue for the same period was HKD 129,085,000, slightly down from HKD 133,196,000 in 2023, indicating a decrease of approximately 3.3%[48] - Rental income rose to HKD 25,775,000, up from HKD 22,996,000, marking an increase of around 12.1%[43] - The group’s Macau operations generated HKD 343,208,000 in revenue, while Hong Kong operations contributed HKD 64,701,000[48] Assets and Liabilities - Cash and short-term bank deposits decreased to HKD 238,800,000 as of September 30, 2024, down from HKD 645,800,000 on March 31, 2024[18] - Non-current assets increased to HKD 4,528,066,000 as of September 30, 2024, compared to HKD 4,157,013,000 as of March 31, 2024, marking an increase of approximately 8.9%[29] - The company’s total assets less current liabilities stood at HKD 4,490,311,000 as of September 30, 2024, down from HKD 4,661,632,000 as of March 31, 2024[29] - The group’s current liabilities exceeded current assets by HKD 37,755,000 as of September 30, 2024, raising concerns about liquidity[33] Corporate Actions - The company completed the acquisition of The Unit Soho for HKD 700,000,000 on July 19, 2024, enhancing its asset portfolio and market position[21] - The company completed the acquisition of Star Omen Limited for HKD 700,000,000 on July 19, 2024, which is now classified as investment property generating rental income[65] - The company plans to sell Bausman Limited for HKD 275,000,000, with the transaction expected to complete by December 16, 2024[22] - The company anticipates completing the sale of Bausman Limited for HKD 275,000,000 by December 16, 2024[66] Dividends and Shareholder Returns - The company has not declared any interim dividend for the current period, consistent with the previous year[25] - The company declared a dividend of HKD 0.015 per share, totaling approximately HKD 17,827,000, paid to shareholders for the fiscal year 2023/2024[60] - The company has no interim dividend declared for the current period, consistent with the previous year[61] Market Outlook - The group is optimistic about the long-term growth of the hotel service market due to increasing outbound tourism from mainland China[17] - The group believes that Macau will continue to be a leading leisure and entertainment center, supported by improved transportation infrastructure and tourism policies[17] - The group plans to continue focusing on its core gaming and hospitality services while exploring opportunities for market expansion and new product development[45] Employee and Operational Metrics - The total number of employees increased to 670 as of September 30, 2024, up from 630 as of March 31, 2024, reflecting a growth of approximately 6.3%[24] Other Financial Metrics - The company reported a tax expense of HKD 4,090,000 for the six months ended September 30, 2024, down from HKD 7,568,000 in the same period of 2023[57] - Trade payables increased to HKD 11,520,000 as of September 30, 2024, compared to HKD 9,420,000 as of March 31, 2024[64] - Total trade receivables as of September 30, 2024, were HKD 66,662,000, with a provision for impairment of HKD 20,879,000, resulting in net receivables of HKD 45,783,000[62] Governance and Compliance - The company has adhered to all provisions of the corporate governance code as per the listing rules during the period[73] - No repurchase, sale, or redemption of the company's listed securities occurred during the period[73] - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website in due course[74]
英皇娱乐酒店(00296) - 2025 - 中期业绩