Financial Performance - The profit attributable to equity holders for the six months ended 30 September 2024 was HK$5,046,000, compared to HK$2,192,000 for the same period in 2023, representing a significant increase of 130%[3]. - Total revenue from contracts with customers for the six months ended 30 September 2024 was HK$580,296,000, compared to HK$494,390,000 for the same period in 2023, reflecting an increase of 17.3%[9]. - The Group's profit before tax for the six months ended 30 September 2024 was impacted by a depreciation expense of HK$3,056,000 for right-of-use assets, compared to HK$2,752,000 in 2023[12]. - The total tax charge for the period was HK$561,000, a decrease from HK$622,000 in the previous year[16]. - The Group's net profit increased from approximately HK$2.2 million for the six months ended September 30, 2023, to approximately HK$5.0 million for the same period in 2024, representing a growth of approximately 127.3%[79]. - Profit before tax increased to HK$5,607,000, a significant rise of 99.5% from HK$2,814,000 for the same period in 2023[114]. - Profit for the period increased to HK$5,046,000, compared to HK$2,192,000 in the same period last year, reflecting a rise of 130.5%[176]. Revenue Breakdown - Revenue from building construction services was HK$446,250,000, while revenue from RMAA works services was HK$134,046,000 for the six months ended 30 September 2024[26]. - Revenue from RMAA works services decreased by approximately HK$46.8 million or approximately 25.9%, from approximately HK$180.8 million for the six months ended 30 September 2023 to approximately HK$134.0 million for the six months ended 30 September 2024[40]. - For the six months ended September 30, 2024, the Group's revenue from construction contracts was approximately HK$446.3 million, an increase of about 42.3% from approximately HK$313.6 million for the same period in 2023[67]. - Revenue from external customers for the six months ended September 30, 2024, was HK$446,250,000, representing an increase of 42.3% compared to HK$313,594,000 for the same period in 2023[176]. Expenses and Costs - Employee benefit expenses, excluding directors' remuneration, totaled HK$45,485,000, down from HK$46,940,000 in the prior period[12]. - Administrative and other operating expenses decreased by approximately HK$4.2 million or approximately 18.2%, from approximately HK$23.1 million to approximately HK$18.9 million for the six months ended 30 September 2024[47]. - Finance costs increased to HK$268,000 from HK$124,000, indicating a rise of 116.1%[114]. - Unallocated head office and corporate expenses were HK$15,818,000 for the period, slightly down from HK$16,971,000 in the previous year[176]. Assets and Liabilities - As of September 30, 2024, the Group had cash and bank balances of approximately HK$189.5 million, up from approximately HK$111.7 million as of March 31, 2024[83]. - Total non-current assets decreased to HK$36,666,000 from HK$39,911,000 as of March 31, 2024, reflecting a decline of approximately 5.8%[139]. - Current assets increased to HK$567,983,000 from HK$554,276,000, representing a growth of about 2.5%[139]. - Total current liabilities rose to HK$328,563,000 from HK$311,933,000, indicating an increase of approximately 5.3%[139]. - The total assets less current liabilities stood at HK$276,086,000, down from HK$282,254,000, reflecting a decrease of approximately 2.9%[139]. - The total equity attributable to equity holders of the company was HK$273,857,000 as of September 30, 2024, down from HK$278,329,000[141]. - The gearing ratio of the Group was approximately 2.9% as of September 30, 2024, compared to 3.3% as of March 31, 2024[84]. Cash Flow - Net cash flows from operating activities for the six months ended September 30, 2024, were HK$86,787, a significant recovery from a cash outflow of HK$4,524 in the same period of 2023[143]. - Cash flows from investing activities resulted in a net inflow of HK$11,478, compared to a net outflow of HK$1,370 in the prior year[143]. - Cash and cash equivalents at the end of the period increased to HK$162,963, up from HK$41,140 at the end of the same period last year[144]. - Loans to subcontractors decreased significantly to HK$4,245 from HK$23,925 in the prior year, reflecting improved cash management[143]. Corporate Governance and Compliance - The Group's corporate governance practices emphasize transparency, accountability, and independence, with ongoing reviews to enhance these practices[56]. - The Group has complied with all relevant laws and regulations during the six months ended September 30, 2024, with no material breaches reported[92]. - The company has complied with all relevant laws and regulations during the reporting period[118]. Shareholder Information - The company did not declare an interim dividend for the six months ended 30 September 2024, compared to no dividend declared for the same period in 2023[23]. - The company paid dividends amounting to HK$9,518,000 to shareholders during the period[141]. - The final dividend for the financial year ended 31 March 2024 is HK$1.2 cents per share, totaling HK$9,518,000, with no interim dividend declared for the six months ended 30 September 2024[154]. Project and Contract Information - As of 30 September 2024, the Group had six major projects on hand, each with an awarded contract sum of HK$10.0 million or above[33]. - During the six months ended 30 September 2024, the Group completed five major projects, each with an awarded contract sum of HK$10.0 million or above[33]. - The Group was awarded two sizeable contracts with an aggregate contract sum of approximately HK$574.9 million during the six months ended 30 September 2024[33].
伟工控股(01793) - 2025 - 中期财报