Financial Performance - The Group's revenue for the six months ended 30 September 2022 was approximately HK$292.6 million, an increase of approximately HK$29.3 million or 11.1% compared to HK$263.3 million for the previous period[12]. - The Group's gross profit for the period increased by approximately HK$3.0 million, mainly due to the rise in revenue[13]. - The Group's profit for the Period increased by approximately HK$3.9 million, mainly due to an increase in gross profit and government subsidies of approximately HK$2.1 million received during the Period[19]. - Profit before income tax increased to HK$28,060,000, up from HK$23,720,000, marking an increase of approximately 18.5%[67]. - Profit for the period was HK$23,427,000, compared to HK$19,520,000 in the prior year, indicating a growth of around 20.5%[67]. - Total comprehensive income for the period was HK$21,658,000, an increase from HK$19,796,000, representing an increase of about 9.7%[67]. - Basic and diluted earnings per share rose to HK$3.90, compared to HK$3.25 in the same period last year, reflecting an increase of approximately 20%[67]. Revenue and Contracts - The value of outstanding contracts on hand as of 30 September 2022 was approximately HK$988 million, with an additional project awarded in November 2022 valued at over HK$200 million[9]. - The increase in revenue was primarily due to favorable progress in key projects during the reporting period[12]. - The Group expects a steady flow of construction contracts from the public sector in the coming years due to the HKSAR Government's proposed infrastructure projects[9]. - The construction market in Hong Kong has remained relatively steady, supported by the government's long-term housing strategy and infrastructural development[9]. Costs and Expenses - The gross profit margin for the period was approximately 15.8%, a decrease from approximately 16.5% in the previous period, attributed to the impact of prolonged projects[13]. - The Group's operational costs have been impacted by rising energy and commodity prices, as well as increasing interest rates[9]. - Administrative and other operating expenses were approximately HK$20.0 million for the Period, remaining stable compared to the Previous Period[17]. - Employee benefit expenses, including salaries and allowances, amounted to HK$23,290,000, up from HK$21,718,000 in 2021, which is an increase of approximately 7.2%[102]. Assets and Liabilities - As of 30 September 2022, the Group had net current assets of approximately HK$240.6 million, including cash and bank balances of approximately HK$107.3 million[22]. - The current ratio as of 30 September 2022 was approximately 1.9 times, down from 2.5 times as of 31 March 2022[22]. - The gearing ratio as of 30 September 2022 was 20.2%, significantly up from approximately 6.6% as of 31 March 2022, due to short-term loans taken to settle material costs[25]. - Total assets as of September 30, 2022, amounted to HK$509,696,000, an increase from HK$374,996,000 as of March 31, 2022, representing a growth of 36%[70]. - The company’s trade and other receivables rose to HK$185,933,000 as of September 30, 2022, compared to HK$90,733,000 as of March 31, 2022, indicating a significant increase of 105%[70]. Shareholder Information - As of September 30, 2022, Mr. Wai Yat Kin and Mr. Yip Pak Hung each held a corporate interest of 369,000,000 shares, representing 61.5% of the issued share capital[47][53]. - Ms. Lam Suk Lan Bonnie and Ms. Wu Janet each held a spouse interest of 434,420,000 shares, representing 72.4% of the issued share capital[53]. - The register of substantial shareholders indicated that no other persons had interests or short positions in the shares of the Company as of September 30, 2022[54]. Dividends - The Group did not recommend an interim dividend for the six months ended September 30, 2022, consistent with the previous year[37][41]. - The company paid dividends of HK$9,000,000 in respect of 2022, down from HK$33,000,000 for 2021, reflecting a reduction of 73%[73]. Governance and Compliance - The Company complied with all provisions of the Corporate Governance Code during the period and will continue to enhance its governance practices[60]. - There were no significant transactions involving Directors or controlling shareholders that could potentially compete with the Company's business during the period[59]. Employment and Workforce - As of September 30, 2022, the Group employed 178 staff members, an increase from 164 as of March 31, 2022[38][42]. - The Group maintained a good relationship with employees, experiencing no significant labor disputes or recruitment difficulties during the reporting period[39][42]. Segment Information - The Group operates in three segments: Structural Engineering Works, Supply and Installation of Building Material Products, and Trading of Building Material Products[83]. - Segment revenue for the six months ended September 30, 2022, totaled HK$292,621,000, an increase from HK$263,347,000 in the same period of 2021, representing an increase of approximately 11.1%[87]. - The structural engineering works segment generated revenue of HK$264,761,000, while the supply and installation of building material products segment generated HK$25,560,000 for the period[99]. Cash Flow - Net cash used in operating activities was HK$34,843,000 for the six months ended September 30, 2022, compared to HK$14,395,000 for the same period in 2021, indicating a decline in cash flow from operations[77]. - The company reported a net cash generated from financing activities of HK$36,066,000 for the six months ended September 30, 2022, compared to a net cash used of HK$36,066,000 for the same period in 2021[77].
应力控股(02663) - 2023 - 中期财报