Financial Performance - Revenue for the six months ended September 30, 2024, was HK$3,946,807,000, an increase of 30.3% compared to HK$3,032,016,000 in the same period last year[9]. - Gross profit for the period was HK$143,263,000, up from HK$118,969,000, reflecting a gross margin improvement[9]. - Profit for the period reached HK$99,893,000, representing a 60.7% increase from HK$62,134,000 in the previous year[9]. - Earnings per share attributable to ordinary equity holders was HK$4.99, compared to HK$3.11 for the same period last year, marking a 60.4% increase[9]. - Total comprehensive income for the period attributable to owners of the parent was HK$100,872,000, significantly higher than HK$55,472,000 in the prior year[9]. - Other comprehensive income for the period included an exchange difference gain of HK$979,000, compared to a loss of HK$6,662,000 in the previous year[9]. Expenses and Costs - Administrative expenses for the period were HK$36,808,000, a decrease from HK$47,442,000 in the previous year, indicating improved cost management[9]. - Finance costs increased to HK$19,263,000 from HK$14,998,000, reflecting higher borrowing costs[9]. - Employee benefit expenses (excluding directors' remuneration) rose to HK$155,359,000 in 2024 from HK$97,508,000 in 2023, marking an increase of 59.3%[46]. - The total current tax charge for the period was HK$17,981,000, compared to HK$15,773,000 in 2023, representing an increase of 14.0%[49]. - The gross profit margin decreased from 3.9% to 3.6% due to rising costs in labor, equipment, and subcontracting fees[107]. Assets and Liabilities - Total non-current assets increased to HK$1,882,150,000 as of September 30, 2024, up from HK$1,728,193,000 as of March 31, 2024, representing a growth of 8.9%[11]. - Current assets rose to HK$3,893,496,000, compared to HK$3,177,454,000 in the previous period, marking an increase of 22.5%[11]. - Accounts receivable surged to HK$286,359,000, a significant increase from HK$75,755,000, reflecting a growth of 277.5%[11]. - Total current liabilities increased to HK$4,111,522,000 from HK$3,286,209,000, indicating a rise of 25.1%[11]. - Net current liabilities stood at (HK$218,026,000), worsening from (HK$108,755,000) in the previous period[11]. - Cash and cash equivalents reached HK$2,408,896,000, up from HK$2,077,918,000, representing an increase of 15.9%[11]. - The Group's total equity attributable to owners of the parent was HK$1,618,438,000, slightly up from HK$1,617,566,000[12]. - The reserves increased to HK$1,598,438,000 as of September 30, 2024, compared to HK$1,597,566,000 as of March 31, 2024[15]. Cash Flow - Net cash flows from operating activities for the six months ended 30 September 2024 were HK$516,809,000, an increase from HK$388,860,000 in the same period of 2023, representing a growth of 32.9%[17]. - The net cash flows used in investing activities amounted to HK$70,519,000 for the period, compared to HK$35,146,000 in the previous year, indicating an increase of 100.7%[17]. - The net cash flows used in financing activities totaled HK$108,894,000, up from HK$80,353,000, marking an increase of 35.5%[17]. - The cash and cash equivalents at the end of the period were HK$2,408,896,000, compared to HK$1,982,646,000 at the end of the previous period, representing a growth of 21.5%[17]. Future Outlook - The company has not disclosed specific future outlook or guidance in the provided content[7]. - There is no mention of new products, technologies, market expansion, or mergers and acquisitions in the available information[7]. - The construction market outlook is supported by the HKSAR Government's commitment to increasing land supply and public housing units, indicating stable tendering opportunities in the coming years[104]. - The Group's medium to long-term outlook for the construction industry in Hong Kong is highly promising due to government initiatives addressing housing demands[167]. Shareholder Information - The Group declared a final dividend of HK$0.05 per share for the year ended March 31, 2024, totaling HK$100,000,000, consistent with the previous year[53]. - The Group's issued and fully paid share capital remained unchanged at 2,000,000,000 ordinary shares with a par value of HK$0.01 each during the period[72]. - The maximum number of shares issuable under the share option scheme is limited to 10% of the shares in issue at the adoption date, with a further limit of 1% for each eligible participant within any 12-month period[74]. - No share options were granted from the date of adoption of the share option scheme up to the date of approval of the unaudited condensed consolidated interim financial information[76]. - Golden Lux Holdings Limited holds 1,500,000,000 shares, representing 75.00% of the issued shares of the company[194]. Operational Highlights - The Group was awarded substantial construction contracts with a total value of HK$4,825 million during the Period[109]. - The Group's property, plant, and equipment amounted to HK$1,773,186,000 as of September 30, 2024, up from HK$1,612,720,000 as of March 31, 2024, indicating a growth of 9.9%[52]. - The Group's accounts receivable as of September 30, 2024, were fully settled, with 100% of the receivables from completed and ongoing contract works projects settled post-reporting period[141]. - Contract assets at the end of the current period included retention receivables of HK$513,204,000 and unbilled revenue of HK$563,066,000, compared to HK$445,540,000 and HK$368,620,000 respectively as of March 31, 2024[137][142]. - The Group's management believes that personal injury claims are well covered by insurance and will not materially impact the financial position[81].
安保工程控股(01627) - 2025 - 中期财报