Revenue and Profitability - The group's revenue increased from approximately HKD 278 million in the first half of FY2024 to approximately HKD 282 million in the first half of FY2025, representing a growth of about HKD 4 million or 1%[8] - The total net profit for the group was approximately HKD 16 million in the first half of FY2025, compared to HKD 17 million in the same period of FY2024[8] - The overall net revenue remained stable at approximately HKD 210 million, showing no significant change compared to the previous year[15] - The company reported a net profit for the period of HKD 15,349 thousand, contributing to retained earnings of HKD 417,455 thousand as of September 30, 2024[114] - The company reported a basic earnings per share of HKD 1.95, down from HKD 2.15 in the previous year[109] Gaming Revenue - Gaming revenue from slot machines increased by approximately HKD 2 million or 1%, totaling HKD 196 million in the first half of FY2025, compared to HKD 194 million in the same period of FY2024[15] - The total gaming revenue for the first half of fiscal year 2025 was HKD 210,233 thousand, slightly up from HKD 209,213 thousand in the first half of fiscal year 2024[21] - The gaming tax for the first half of FY2025 was approximately HKD 72 million, an increase of about HKD 5 million or 7% from HKD 67 million in the first half of FY2024[19] - The increase in revenue was primarily driven by an increase in the number of slot machines and the number of players[12] - The total revenue for the gaming segment was HKD 196,118,000 for the six months ended September 30, 2024, compared to HKD 194,279,000 in 2023, reflecting a slight increase of 0.9%[122] Hotel and Related Services - Hotel, restaurant, and related services revenue rose by approximately HKD 2 million or 2%, reaching HKD 86 million in the first half of FY2025, compared to HKD 84 million in the same period of FY2024[16] - The total hotel and related services revenue for the first half of fiscal year 2025 was HKD 85,544 thousand, a 1.8% increase from HKD 84,008 thousand in the same period of fiscal year 2024[24] - The average room revenue increased by 4% from HKD 703 to HKD 731 in the first half of fiscal year 2025[28] - The hotel, restaurant, leasing, and related services revenue reached HKD 85,975,000, up 2.3% from HKD 84,008,000 in the previous year[126] Operating Expenses - Operating expenses remained stable at approximately HKD 195 million, with a slight decrease of HKD 0.2 million or 0% compared to the previous period[33] - Other operating expenses increased by HKD 13 million or 29% to HKD 60 million, primarily due to increased online gaming expenses and higher utility costs[36] - Employee benefits expenses slightly decreased by HKD 1 million or 1% to HKD 95 million in the first half of FY2025[35] - The company incurred other operating expenses of HKD 71,405,000, which is an increase from HKD 56,656,000 in the prior year[109] Capital and Equity - Total equity attributable to owners increased by 9% to HKD 550 million as of September 30, 2024[40] - The company's net asset value increased to HKD 550,209 thousand as of September 30, 2024, up from HKD 502,854 thousand, marking a growth of 9.4%[112] - The company’s total cost of properties as of September 30, 2024, was HKD 771,616,000, compared to HKD 733,414,000 as of March 31, 2024[141] Cash Flow and Investments - Cash and bank balances totaled approximately HKD 296 million as of September 30, 2024, down from HKD 305 million[40] - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 3,164,000, a significant decrease from HKD 20,877,000 in the same period of 2023, representing a decline of approximately 84.8%[117] - The net cash used in investing activities was HKD 24,390,000 for the six months ended September 30, 2024, compared to HKD 19,643,000 in 2023, indicating an increase of 24.4%[117] Shareholder Information - As of September 30, 2024, Dan Sri Dato' Chiu Tak Cheong holds a total of 1,540,570,310 shares in FEC, representing approximately 54.68% of the issued share capital[1] - Major shareholder Ample Bonus holds 581,318,000 shares, representing 72.07% of the issued share capital[89] - The stock option plan adopted on March 4, 2024, is valid for ten years from the listing date, with no options granted, agreed to be granted, exercised, canceled, or expired as of September 30, 2024[3] Future Outlook - The company anticipates a challenging macroeconomic environment for FY2025/2026, with inflation and interest rates showing positive trends, but geopolitical tensions and increased gaming tax rates may impact profitability[56] - The company plans to expand its gaming area and increase the number of slot machines to enhance revenue sources, with ongoing preparations for a new casino in Mikulov, Czech Republic, in the first half of FY2026[56] Corporate Governance - The company has adopted the corporate governance code as a benchmark for its governance practices[97] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[98]
百乐皇宫(02536) - 2024 - 中期财报