Financial Performance - The company recorded revenue of approximately HKD 151.5 million for the six months ended January 31, 2025, representing an increase of about 14.3% compared to HKD 132.6 million for the same period in 2024[3] - The total profit and comprehensive income increased by approximately 64.7% to HKD 14.0 million for the six months ended January 31, 2025, up from HKD 8.5 million for the same period in 2024[3] - Earnings per share for the six months ended January 31, 2025, was approximately HKD 1.40, compared to HKD 0.85 for the same period in 2024[3] - Gross profit for the six months ended January 31, 2025, was HKD 37.5 million, up from HKD 32.4 million for the same period in 2024[5] - Operating profit increased to HKD 17.0 million for the six months ended January 31, 2025, compared to HKD 10.6 million for the same period in 2024[5] - The company reported a net profit attributable to shareholders of HKD 14,001,000 for the six months ended January 31, 2025, up from HKD 8,510,000 in the previous year, reflecting a growth of approximately 64.5%[23] - The total customer contract revenue amounted to HKD 103,370,000 for the six months ended January 31, 2025, compared to HKD 94,526,000 for the same period in 2024, marking an increase of about 9.8%[16] - The segment performance showed a profit of HKD 16,855,000 for the six months ended January 31, 2025, compared to HKD 10,142,000 for the same period in 2024, indicating a year-over-year increase of about 66.5%[16] - Total profit and comprehensive income increased by approximately 64.7% to approximately HKD 14.0 million, with a net profit margin rising from approximately 6.4% to about 9.2%[49] Revenue Breakdown - Revenue from heavy equipment and spare parts sales was HKD 88.8 million for the six months ended January 31, 2025, compared to HKD 73.7 million for the same period in 2024[13] - Revenue from leasing heavy equipment was HKD 48.1 million for the six months ended January 31, 2025, compared to HKD 38.1 million for the same period in 2024[13] - For the six months ended January 31, 2025, external customer revenue reached HKD 151,466,000, an increase from HKD 132,583,000 for the same period in 2024, representing a growth of approximately 14.2%[16] - Revenue increased by approximately 14.3% from about HKD 132.6 million to about HKD 151.5 million, driven by higher sales of heavy equipment and parts[40] Costs and Expenses - The company incurred a cost of sales of HKD 69,575,000 for the six months ended January 31, 2025, compared to HKD 55,904,000 in the previous year, which is an increase of approximately 24.4%[22] - Cost of revenue rose by approximately 13.8% to about HKD 114.0 million, primarily due to increased sales of machinery, equipment, and parts[41] - Administrative and other operating expenses increased by approximately HKD 0.7 million or about 3.2% to approximately HKD 22.4 million for the six months ended January 31, 2024[46] - Financing costs decreased by approximately HKD 0.4 million or about 80.0% to approximately HKD 0.1 million due to no bank borrowings during the period[47] - Income tax expenses increased by approximately HKD 1.2 million or about 74.9% due to an increase in taxable profits during the period[48] Dividends - The board declared an interim dividend of HKD 0.015 per share, expected to be paid in cash on or around April 24, 2025[3] - The company declared a final dividend of HKD 15,000,000 for the year ended 2024, compared to HKD 5,000,000 for the year ended 2023, indicating a substantial increase in shareholder returns[22] Cash and Assets - The company reported a net cash balance of HKD 105.9 million as of January 31, 2025, compared to HKD 73.8 million as of July 31, 2024[7] - Total assets less current liabilities amounted to HKD 464.9 million as of January 31, 2025, slightly down from HKD 467.4 million as of July 31, 2024[7] - As of January 31, 2025, the current ratio was approximately 11.4 times, down from 12.6 times as of July 31, 2024, with cash and bank balances of approximately HKD 105.9 million[50] Investments and Commitments - The company acquired property, plant, and equipment at a cost of approximately HKD 318,000,000 for the six months ended January 31, 2025, down from HKD 572,000,000 for the same period in 2024[24] - The company has capital commitments of approximately HKD 562,000 for the purchase of properties, plants, and equipment as of January 31, 2025[34] Other Financial Metrics - The company reported a bank interest income of HKD 481,000 for the six months ended January 31, 2025, significantly higher than HKD 24,000 in the previous year[18] - The company experienced a foreign exchange loss of HKD 1,360,000 for the six months ended January 31, 2025, compared to a loss of HKD 462,000 in the previous year[18] - The deferred tax expense for the six months ended January 31, 2025, was HKD (808,000), a decrease from HKD (3,169,000) in the previous year, indicating improved tax efficiency[19] - The company recorded a reversal of expected credit loss provisions of about HKD 1.4 million during the period, compared to a provision of about HKD 0.4 million in the previous period[44] - Trade and lease receivables as of January 31, 2025, amounted to HKD 68.173 million, down from HKD 88.279 million as of July 31, 2024, after accounting for expected credit loss provisions[26] Corporate Governance - The group's interim results for the period were reviewed by the Audit Committee, consisting of three independent non-executive directors[67] - The chairman and CEO of the company is Zhou Lianfa, with other executive directors including Liao Shuyi and Wu Huiying[67] - The Audit Committee is chaired by Mr. Luo Zilian, with members including Sir Guo Zhaowen and Dr. Huang Wenxian[67] Future Outlook - The company plans to continue diversifying its supplier base and promoting various safety smart site systems and innovative quality products to enhance sustainability and competitiveness[38] - Future average annual capital works expenditure in Hong Kong is expected to increase to about HKD 120 billion, driven by infrastructure projects[38] Miscellaneous - The company has no significant acquisitions, investments, or capital asset plans during the period[54] - The company has no significant contingent liabilities as of January 31, 2025[55] - The company has not purchased, sold, or redeemed any of its listed securities during the period[63] - The total employee cost for the period was approximately HKD 27.9 million, compared to HKD 28.6 million for the six months ended January 31, 2024[57]
德利机械(02102) - 2025 - 中期业绩