Financial Performance - The company reported revenue of HKD 59,455,000 for the six months ended September 30, 2024, representing an increase of 15.5% compared to HKD 51,445,000 in the same period of 2023[11] - Gross profit decreased to HKD 4,516,000, down 73.9% from HKD 17,325,000 year-on-year, indicating challenges in cost management[11] - The company achieved a profit before tax of HKD 19,292,000, a significant recovery from a loss of HKD 4,381,000 in the previous year[11] - The net profit for the period was HKD 19,247,000, compared to a loss of HKD 4,858,000 in the same period last year, marking a turnaround in performance[11] - The total comprehensive income for the six months ended September 30, 2024, was HKD 19,247,000, compared to a total comprehensive loss of HKD 4,858,000 in the same period of 2023[20] - The company reported a profit attributable to shareholders of HKD 19,247,000 for the six months ended September 30, 2024, compared to a loss of HKD 4,858,000 in the same period of 2023[53] - The company reported a profit of approximately HKD 19.2 million for the period, a significant turnaround from a loss of about HKD 4.9 million for the same period in 2023[89] Assets and Equity - Total assets increased to HKD 155,000,000 as of September 30, 2024, up from HKD 119,621,000 as of March 31, 2024[15] - The company's net asset value rose to HKD 153,043,000, compared to HKD 115,796,000 at the end of the previous fiscal year[15] - As of April 1, 2024, the total equity was HKD 115,796,000, an increase from HKD 91,956,000 as of April 1, 2023, representing a growth of approximately 26%[20] Earnings Per Share - Basic and diluted earnings per share improved to HKD 1.44, compared to a loss per share of HKD 0.42 in the prior year[13] - Basic and diluted earnings per share for the period were HKD 1.44, a significant improvement from a loss of HKD 0.42 per share in the prior year[53] Cash Flow and Financing - Cash and cash equivalents decreased by HKD 12,212,000 during the six months ended September 30, 2024, compared to a decrease of HKD 4,434,000 in the same period of 2023[23] - Operating cash flow for the six months ended September 30, 2024, was a net outflow of HKD 28,126,000, compared to a net outflow of HKD 4,090,000 in the same period of 2023[23] - The company’s financing costs increased slightly to HKD 204,000 from HKD 176,000, indicating a rise in borrowing costs[11] - As of September 30, 2024, the company had no borrowings, reflecting a strong financial position[91] Employee Costs - Employee costs totaled HKD 48,241,000 for the six months ended September 30, 2024, an increase from HKD 33,576,000 in 2023, reflecting a rise of approximately 43.6%[41] - Employee costs for the six months ended September 30, 2024, amounted to approximately HKD 48.2 million, compared to approximately HKD 33.6 million for the same period in 2023, reflecting a year-on-year increase of 43.4%[102] Revenue Streams - The company reported other income of HKD 953,000, down from HKD 1,246,000 in the previous year, reflecting a decline in ancillary revenue streams[11] - Revenue from customer contracts for the six months ended September 30, 2024, was HKD 59,455,000, up from HKD 51,445,000 in 2023, indicating a growth of approximately 15.6%[32] - The company's revenue increased by approximately HKD 8.1 million or about 15.6% to approximately HKD 59.5 million for the six months ended September 30, 2024, compared to HKD 51.4 million for the same period in 2023[80] Expenses - Service costs rose by HKD 20.8 million or approximately 61.0% to about HKD 54.9 million for the six months ended September 30, 2024, primarily due to increased director remuneration and employee costs[81] - General and administrative expenses increased by approximately HKD 9.0 million or 71.5% to about HKD 21.7 million, driven by higher employee costs and legal and professional fees[86] Share Capital and Dividends - The company raised HKD 18,000,000 through the issuance of new shares during the reporting period[20] - The board does not recommend the payment of an interim dividend for the six months ending September 30, 2024[127] - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[52] Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM Listing Rules, with no significant deviations noted[124] - The company continues to review its corporate governance practices to enhance standards and meet increasing regulatory requirements[124] - The company has established a robust internal control system, which has led to the decision not to purchase insurance for directors' liabilities at this time[124] Other Information - The company operates primarily in Hong Kong, with nearly all external revenue generated from services provided within the region[38] - The company has not disclosed any new product developments, market expansions, or mergers and acquisitions during the reporting period[101] - There were no significant events related to the company's business or financial performance that required the board's attention after the reporting period[101] - The audit committee, established on August 27, 2018, consists of four independent non-executive directors and has reviewed and approved the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[130]
WAC HOLDINGS(08619) - 2025 - 中期业绩