Revenue Growth - Revenue for the six months ended June 30, 2023, increased by 55.0% to HKD 1,106.9 million compared to HKD 714.1 million in the same period last year[9]. - The cleaning segment generated revenue of HKD 861.5 million, representing a 72.8% increase year-on-year and accounting for approximately 77.8% of total revenue[13]. - The waste management and recycling segment reported revenue of HKD 137.2 million, a 22.7% increase from HKD 111.8 million in the previous year[21]. - The gardening segment's revenue increased by 8.1% to HKD 61.4 million, while pest management revenue remained stable at HKD 46.8 million[21]. - Revenue for the six months ended June 30, 2023, was approximately HKD 1,106.9 million, representing an increase of about 55% compared to HKD 714.1 million in the same period last year[36]. - Revenue from external customers in Hong Kong reached HKD 1,106,301,000, a substantial rise from HKD 702,110,000 in the prior year[81]. Profitability - The operating profit for the six months was HKD 31.8 million, up 15.7% from HKD 27.5 million in the previous year[9]. - The profit attributable to equity shareholders increased by 22.7% to HKD 21.8 million, compared to HKD 17.8 million in the same period last year[9]. - The overall gross profit increased from approximately HKD 57.7 million to HKD 86.4 million, despite a slight decrease in overall gross margin from 8.1% to 7.8%[23]. - The company's net profit attributable to equity shareholders for the six months was approximately HKD 21.8 million, an increase of about 22.7% from HKD 17.8 million in the previous year[45]. - The pre-tax profit for the six months ended June 30, 2023, was HKD 21,834,000, an increase from HKD 17,796,000 for the same period in 2022, representing a growth of approximately 22.9%[88]. Contracts and Market Position - The group secured new contracts valued at approximately HKD 1.78 billion during the period, including contracts for various hospitals and public facilities[14]. - The group secured contracts totaling approximately HKD 4,557.2 million as of June 30, 2023, with HKD 1,148.9 million expected to be recognized by the end of 2023[25]. - The group won two out of four contracts awarded by the Environmental Protection Department for food waste collection services, reinforcing its market leadership in Hong Kong[17]. - The group continues to expand its waste management and recycling services, covering five districts and serving a population of approximately 1.6 million[15]. - The group’s cleaning services cover eight districts in Hong Kong, serving a population of about 3 million, reinforcing its market leadership[15]. Financial Position - The group's net cash flow from operating activities for the period was approximately HKD 111.0 million, compared to HKD 50.1 million in the first half of 2022, representing a significant increase[47]. - As of June 30, 2023, the group's available cash and bank balances were approximately HKD 63.2 million, an increase of about 118.0% from HKD 29.0 million on December 31, 2022[47]. - The total current assets and current liabilities as of June 30, 2023, were approximately HKD 553.5 million and HKD 506.0 million, respectively, maintaining a current ratio of approximately 1.1 times[47]. - The group's bank borrowings decreased by approximately 17.2% to HKD 146.0 million as of June 30, 2023, down from HKD 176.4 million on December 31, 2022[48]. - The company's total liabilities increased to HKD 573,975 thousand as of June 30, 2023, compared to HKD 560,057 thousand at the end of 2022, indicating a rise of 2.1%[61]. Employee Costs and Staffing - The total employee costs for the six months ended June 30, 2023, were approximately HKD 899.0 million, compared to HKD 555.2 million for the same period in 2022, reflecting an increase of approximately 62%[57]. - The group employed 8,963 staff as of June 30, 2023, an increase from 8,894 staff on December 31, 2022[57]. - The company's short-term employee benefits paid to key management personnel increased to HKD 6,094,000 in the first half of 2023, up from HKD 5,172,000 in the same period of 2022, reflecting a growth of 17.8%[109]. Dividends and Shareholder Returns - The company did not declare an interim dividend for the period, consistent with the previous year[20]. - The company approved a final dividend of HKD 0.038 per ordinary share for the fiscal year, compared to HKD 0.009 per share in the previous year, representing a 322% increase[87]. - The company did not recommend any interim dividend for the six months ended June 30, 2023, compared to no interim dividend in the same period of 2022[87]. Strategic Initiatives - The company is actively pursuing opportunities in green technology and aims to align with the government's green economy initiatives[12]. - The company is actively researching the application of biotechnology to address food waste issues, capturing significant business opportunities[16]. - The company is actively exploring suitable mergers, joint ventures, or new business projects to accelerate future growth and deliver long-term returns to shareholders[34]. Corporate Governance - The company has maintained high standards of corporate governance and has complied with all applicable code provisions during the reporting period[144]. - The audit committee, composed of three independent non-executive directors, is responsible for reviewing the group's financial reporting procedures and risk management[151]. - The company has adopted the standard code of conduct for securities transactions by directors and confirmed compliance during the reporting period[150].
碧瑶绿色集团(01397) - 2023 - 中期财报