Financial Performance - Revenue for the year ended March 31, 2022, was HK$ 405.9 million, a decrease of 27.1% from HK$ 556.7 million in 2021[10] - Gross profit for the same period was HK$ 68.0 million, down 14.5% from HK$ 79.4 million in 2021[10] - Profit before income tax expense was HK$ 33.7 million, representing a 39.6% decrease from HK$ 55.8 million in the previous year[10] - Profit attributable to the owners of the Company for the year was HK$ 27.0 million, a decline of 50.3% compared to HK$ 54.4 million in 2021[10] - Basic and diluted earnings per share were HK$ 3.4 cents, down 50.3% from HK$ 6.8 cents in 2021[10] - Revenue for the year was HK$403.9 million, a decrease of 21% from HK$511.0 million in the previous year[84] - The Group's profit attributable to the owners for the year ended 31 March 2022 was approximately HK$27.0 million, a decrease of approximately HK$27.4 million or 50.3% from approximately HK$54.4 million for the year ended 31 March 2021[100] Assets and Liabilities - Total assets as of March 31, 2022, were HK$ 317.7 million, a decrease of 19.8% from HK$ 396.2 million in 2021[11] - Total bank borrowings decreased to HK$ 168.5 million from HK$ 181.5 million in the previous year[11] - As of March 31, 2022, the Group had current assets of approximately HK$296.4 million, including cash and cash equivalents of approximately HK$141.6 million[108] - The Group's current liabilities were approximately HK$148.3 million, down from HK$213.8 million in 2021, resulting in a current ratio of approximately 2.0 times, compared to 1.5 times in 2021[109] - The gearing ratio of the Group as at 31 March 2022 was approximately 2.7%, up from 2.3% in the previous year[108] Operational Highlights - The Group completed 11 projects and was awarded 14 projects during the same period, all of which were fitting-out projects, resulting in a segment profit from contracting of approximately HK$40.2 million[41] - Fitting-out projects contributed HK$330.8 million, accounting for 81.9% of total revenue, while A&A projects generated HK$73.1 million, representing 18.1%[86] - The Group's contracting revenue for the year ended 31 March 2022 was approximately HK$403.9 million, a decrease of approximately HK$107.1 million or 21.0% compared to the previous financial year[91] - Gross profit from contracting increased by approximately HK$32.1 million or 91.0%, from approximately HK$35.3 million for the year ended 31 March 2021 to approximately HK$67.4 million for the year ended 31 March 2022[91] - The gross profit margin from contracting increased to approximately 16.7% for the year ended 31 March 2022, up from approximately 6.9% for the year ended 31 March 2021[91] Strategic Investments - The strategic investments division recorded a segment loss of approximately HK$0.7 million, focusing on divesting earlier stock investments and targeting property-related investment deals[60] - The Group secured development land in Hokkaido, Japan, near a planned Shinkansen high-speed rail station, and is working with local specialists for efficient land use[61] - The Group acquired Adelaide Chambers in Dublin, Ireland, a building with approximately 20,000 square feet of commercial office space, aiming to enhance its value through upgrades and lease improvements[62] - The Group anticipates further investment opportunities and expects to fully allocate capital for investment within the 2023 financial year[74] Market Conditions and Outlook - The Group is assessing the impact of high inflation on its business sectors and is preparing to navigate the challenges posed by it[64] - As Hong Kong lifts pandemic restrictions, the Group is optimistic about regaining its full international status soon[63] - The easing of pandemic restrictions in Hong Kong is expected to restore the region's international standing, which is crucial for business recovery[67] - The Group anticipates improved financials as BSL transitions from its infancy to a development phase, benefiting from trends in wellness and energy consumption reduction[54] Corporate Governance and Management - The Group confirmed compliance with all Corporate Governance Code provisions except for Code Provision A.2.1, which requires the roles of chairman and chief executive to be held by different individuals[134] - The Group's management team is composed of individuals with significant industry experience, contributing to its strategic direction and operational success[143] - The independent directors provide critical oversight and independent advice to the Board, enhancing corporate governance[155] - The Group's strategic planning and overall business development are overseen by the executive directors, including Mr. Howard and Mr. Smithers[143] Employee and Operational Metrics - Total staff costs for the year ended March 31, 2022, were approximately HK$68.5 million, an increase from approximately HK$66.7 million for the year ended March 31, 2021[129] - The Group had 98 employees as of March 31, 2022, compared to 97 in the previous year[129]
IBI GROUP HLDGS(01547) - 2022 - 年度财报