Financial Performance - The group's revenue for the six months ended September 30, 2022, was approximately HKD 234.1 million, an increase of about 28.4% compared to HKD 182.3 million for the same period last year[23]. - Gross profit for the same period was approximately HKD 43.5 million, representing a 41.0% increase from HKD 30.9 million year-on-year, with the gross profit margin rising from 16.9% to 18.6%[24]. - Net profit for the six months ended September 30, 2022, was approximately HKD 30.6 million, an increase from HKD 24.6 million year-on-year, primarily due to higher gross profits from construction projects[32]. - The group's share of profits from associates was approximately HKD 6.7 million, up about 17.4% from HKD 5.7 million in the previous period[30]. - Operating profit decreased to HKD 21,344,000, down 28.5% from HKD 29,912,000 in the previous year[79]. - Profit before tax increased to HKD 36,440,000, a 35% rise from HKD 27,015,000 in the prior year[82]. - The company's profit attributable to owners for the six months ended September 30, 2022, was HKD 30,585,000, compared to HKD 24,647,000 for the same period in 2021, representing a growth of approximately 24%[142]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 447,857,000, an increase from HKD 415,888,000 at the end of March 2022[89]. - The group's net asset value increased by 6.5% from approximately HKD 279.1 million on March 31, 2022, to approximately HKD 297.2 million on September 30, 2022[34]. - Current assets increased by 7.9% from approximately HKD 158.2 million to approximately HKD 170.7 million, driven by increases in inventory and cash equivalents[34]. - The company's total liabilities, including trade and other payables, were HKD 83,421,000 as of September 30, 2022, compared to HKD 78,764,000 as of March 31, 2022, representing an increase of approximately 5.5%[169]. - The debt-to-equity ratio improved to approximately 1.1% on September 30, 2022, down from 1.5% on March 31, 2022[38]. Cash Flow and Dividends - Cash and cash equivalents amounted to approximately HKD 164.2 million as of September 30, 2022, up from HKD 153.3 million on March 31, 2022[35]. - Operating cash flow for the six months ended September 30, 2022, was HKD 30,554,000, a significant increase from HKD 10,747,000 in 2021, representing an increase of approximately 184.5%[102]. - The company paid dividends amounting to HKD 14,694,000, an increase from HKD 12,595,000 in the previous year, which is an increase of about 16.7%[105]. - The company has not declared any interim dividends for the six months ending September 30, 2022[60]. Expenses - Administrative expenses increased by 25.4% to approximately HKD 13.8 million, compared to HKD 11.0 million in the previous fiscal year[28]. - The total employee cost for the six months ending September 30, 2022, was approximately HKD 35.9 million, compared to HKD 27.8 million for the same period in 2021[63]. - Employee benefit expenses for the six months ended September 30, 2022, totaled HKD 39,570,000, compared to HKD 31,670,000 in the same period of 2021, reflecting an increase of approximately 25%[137]. Market Outlook and Challenges - The group anticipates challenges in achieving similar financial performance in the coming year due to a more difficult market environment and labor shortages[19]. - The government has committed to infrastructure spending, with an average annual expenditure exceeding HKD 1,000 million from 2023 to 2027, which provides a positive outlook for the group[20]. Investments and Projects - The group has eight ongoing projects and several completed projects with an estimated remaining contract value of approximately HKD 1,024 million[18]. - The group continues to focus on expanding its market presence and enhancing its operational efficiency through strategic investments in associates and contract management[150]. Shareholder Information - As of September 30, 2022, the company had a total of 300,372,000 shares held by major shareholders, representing 71.55% of the issued share capital[51]. - The company has not made any changes to its accounting policies or made retrospective adjustments due to the adoption of new standards[116]. Compliance and Governance - The company has maintained compliance with the corporate governance code, except for the separation of roles between the Chairman and CEO[55]. - The company believes that having one person serve as both Chairman and CEO is beneficial for efficient management[55].
万景控股(02193) - 2023 - 中期财报