Financial Performance - The Group's revenue for the period amounted to approximately HK$387.5 million, representing an increase of approximately HK$69.6 million or 21.9% compared to the previous period's revenue of approximately HK$317.9 million[13]. - The Group's profit for the period increased by approximately HK$0.1 million, driven by a gross profit increase of approximately HK$4.5 million, offset by a rise in administrative and other operating expenses of approximately HK$4.3 million[24]. - Profit before income tax increased to HK$30,707,000, compared to HK$29,057,000 in the previous year, reflecting a growth of 5.7%[88]. - Profit for the period was HK$25,085,000, compared to HK$24,210,000, showing an increase of 3.6%[88]. - Total comprehensive income for the period was HK$25,673,000, up from HK$22,967,000, marking a 12.0% increase[88]. - Basic and diluted earnings per share rose to 4.50 HK cents, compared to 4.35 HK cents in the prior period[88]. Expenses and Costs - The gross profit margin decreased to approximately 14.8% for the period, down from approximately 16.6% in the previous period, primarily due to uncertainties in compensation negotiations for variation works[14]. - Administrative and other operating expenses increased by approximately 18.4% to approximately HK$27.7 million for the period, compared to approximately HK$23.4 million in the previous period, mainly due to an increase in Directors' discretionary bonuses[15]. - The Group's finance costs decreased by approximately 29.4% to approximately HK$1.2 million for the period, down from approximately HK$1.7 million in the previous period, due to improved cash flow and reduced bank borrowings[16]. - Employee benefit expenses increased to HK$43,645,000 from HK$37,214,000, marking an increase of approximately 17.5% year-over-year[124]. Taxation - The effective tax rate for the period was 18.3%, higher than the previous period's rate of 16.7%, due to increased Enterprise Income Tax from subsidiaries in the PRC[17]. - The Group's income tax expense for the period was approximately HK$5.6 million, an increase of approximately HK$0.8 million from approximately HK$4.8 million in the previous period, with an effective tax rate of 18.3% compared to 16.7% previously[22]. Assets and Liabilities - As of 30 September 2024, the Group had net current assets of approximately HK$258.4 million, down from approximately HK$276.6 million as of 31 March 2024, with cash and bank balances of approximately HK$132.7 million[27]. - The Group's current ratio remained stable at approximately 2.2 times as of 30 September 2024, consistent with the ratio as of 31 March 2024[27]. - The gearing ratio as of 30 September 2024 was 2.7%, a significant decrease from approximately 6.4% as of 31 March 2024, due to the repayment of short-term loans from bank using revenue proceeds from key projects[30]. - The Group's total liabilities as of September 30, 2024, were HK$131,787,000, slightly down from HK$135,871,000 as of March 31, 2024[166]. Dividends - The Group proposed a special dividend of HK$0.04 per ordinary share, totaling approximately HK$22.3 million, representing a dividend payout ratio of approximately 89%[48]. - The company proposed a special dividend of HKD 0.04 per ordinary share, totaling HKD 22,277,200, which corresponds to a payout ratio of approximately 89%[52]. Contracts and Projects - The value of outstanding contracts on hand as of September 30, 2024, was approximately HK$619 million, a decrease from approximately HK$1,022 million as of September 30, 2023[10]. - The tower facade project in Central was the largest revenue contributor for the period, achieving revenue growth of over HK$86 million[10]. - The Group encountered uncertainties in negotiations for compensation on a near-completion project, leading to a revised budget and lower profit margins for the period[10]. - The Group expects challenges in the remaining part of the financial year due to an unstable economic environment in Hong Kong and increased price sensitivity among private market customers[10]. Corporate Governance - The company has established an audit committee, a remuneration committee, and a nomination committee to enhance corporate governance practices[78]. - The company confirmed compliance with the Required Standard of Dealings for securities transactions by directors throughout the period[71]. Employment and Workforce - The total employee benefit expenses for the six months ended 30 September 2024 were approximately HK$43.6 million, with the Group maintaining a stable workforce of 214 staff members[50]. - As of September 30, 2024, the group employed 214 staff members, with total employee benefit expenses for the six months amounting to approximately HKD 43.6 million[54]. Shareholder Information - As of September 30, 2024, the substantial shareholder Success Wing Investments Limited held 325,930,000 ordinary shares, representing 58.52% of the issued share capital[65]. - No share options were outstanding under the Share Option Scheme as of September 30, 2024, and no share options were granted during the period[69]. - The company did not purchase, sell, or redeem any of its listed shares during the period[70]. Legal and Compliance - There are no pending legal cases with material claim amounts against the Group as of 30 September 2024[178]. - The company did not engage in any significant acquisitions or disposals during the period[40].
应力控股(02663) - 2025 - 中期财报