美丽华酒店(00071) - 2022 - 中期财报

Financial Performance - The group's revenue for the six months ended June 30, 2022, was HKD 591 million, a 1.2% increase from HKD 584 million in the same period last year[5]. - Shareholders' profit attributable to the company was HKD 204 million, representing a 29.2% increase from HKD 158 million in 2021[5]. - Basic earnings per share rose to HKD 0.30, a 7.1% increase from HKD 0.28 in the previous year[5]. - Revenue for the six months ended June 30, 2022, was HKD 590,784, an increase of 1.9% compared to HKD 583,658 for the same period in 2021[18]. - Net profit for the period was HKD 208,192, representing a 29.4% increase from HKD 160,847 in the previous year[20]. - Total comprehensive income for the period was HKD 165,560, a decrease from HKD 178,354 in the prior year[22]. - The company's profit attributable to shareholders for the six months ended June 30, 2022, was HKD 203.802 million, compared to HKD 157.727 million for the same period in 2021, representing a 29.2% increase[46]. - Basic and diluted earnings per share increased to HKD 0.29, up from HKD 0.23 in the same period last year[18]. Dividend and Shareholder Returns - The interim dividend declared is HKD 0.21 per share, expected to be distributed on October 12, 2022[6]. - The company declared an interim dividend of HKD 0.21 per share for the current period, compared to HKD 0.20 per share for the same period last year, reflecting a 5% increase[44]. Business Challenges and Responses - The group faced significant challenges due to the COVID-19 pandemic, with local GDP declining by 4.0% year-on-year in the first quarter of 2022[7]. - The group implemented the "MIRA CARE" plan to enhance safety measures in response to the pandemic, distributing rapid antigen test kits to employees and customers[8]. - The rental business remained stable despite a significant drop in retail and dining due to pandemic policies, with efforts to maintain high occupancy rates[8]. - The group plans to adopt a proactive and prudent approach to enhance competitiveness and seek investment opportunities amid ongoing pandemic uncertainties[9]. - The group aims to adjust strategies according to market changes to achieve sustainable performance and maximize benefits for shareholders[9]. Revenue Breakdown - Hotel and serviced apartment revenue decreased by 10.0% year-on-year to HKD 107.9 million, with an EBITDA loss of HKD 13.7 million, widening the loss by HKD 6.1 million compared to the previous year[11]. - Rental income remained stable at HKD 406.9 million, with an EBITDA of HKD 349.6 million, showing no significant change from the previous year[12]. - Restaurant business revenue increased by 53% and 62% in May and June respectively compared to the previous year, totaling HKD 65.2 million, with an EBITDA loss of HKD 6 million[14]. - Travel business revenue was HKD 10.8 million, with an EBITDA loss of HKD 7.9 million, significantly improved from HKD 0.7 million revenue and HKD 7.8 million loss in the same period last year[15]. Financial Position and Liquidity - The group maintained a cash balance of HKD 5.4 billion as of June 30, 2022, with no loans outstanding[17]. - The total credit facilities available to the group remained at HKD 1 billion, with no utilization as of June 30, 2022[17]. - The group’s debt-to-equity ratio was zero, indicating a strong financial position with sufficient liquidity to navigate economic uncertainties[17]. - Current assets amounted to HKD 5,798,309, an increase from HKD 5,604,062 at the end of 2021[24]. - The company’s total equity as of June 30, 2022, was HKD 20,028,097,000, compared to HKD 19,983,042,000 at the end of the previous year, reflecting a slight increase of about 0.2%[26]. Asset Valuation - The fair value of investment properties decreased by HKD 6.8 million, with a total fair value of HKD 15.2 billion as of June 30, 2022[13]. - The company reported a fair value decrease in investment properties of HKD 6,833, significantly improved from HKD 53,982 in the previous year[18]. - The company reported a decrease in the fair value of investment properties by HKD (6,833,000) during the period[34]. Operational Efficiency - Operating and other expenses decreased by HKD 12.6 million (15.1%) to HKD 70.9 million compared to the previous year[16]. - Adjusted EBITDA for the total group was HKD 321,862,000, compared to HKD 330,064,000 in the prior year, reflecting a decrease of 2.5%[34]. - Employee compensation for the period was HKD 190,752,000, up from HKD 172,727,000 in the previous year, indicating an increase of 10.4%[36]. Compliance and Governance - The company has complied with the Corporate Governance Code as per the Hong Kong Stock Exchange Listing Rules during the six months ending June 30, 2022[81]. - The Audit Committee reviewed the financial performance for the six months ending June 30, 2022, discussing internal controls, risk management, and financial reporting with independent auditors[82]. - All directors confirmed compliance with the standards set out in the "Model Code for Securities Transactions by Directors of Listed Issuers" during the accounting period covered by the interim report[83]. Employee and Human Resources - As of June 30, 2022, the group employed a total of 1,117 full-time employees, with 1,088 in Hong Kong, 22 in Mainland China, and 7 overseas[79]. - The group has been recognized annually since 2011 with the "Talent Enterprise Award" by the Employee Retraining Board for its achievements in human resources training and development[80]. - The company is committed to providing a continuous learning environment and opportunities for employee growth and productivity enhancement[80].