Financial Performance - Revenue for the six months ended September 30, 2023, was HK$233,710,000, a decrease of 1.5% compared to HK$236,071,000 for the same period in 2022[14]. - Gross profit for the period was HK$39,786,000, down 3.2% from HK$41,081,000 in the previous year[14]. - Profit before income tax was HK$15,646,000, representing a decline of 16.4% from HK$18,607,000 in the prior year[14]. - Profit for the period attributable to owners of the Company was HK$12,830,000, a decrease of 14.3% compared to HK$14,975,000 in 2022[14]. - Basic and diluted earnings per share for the period were HK2.14 cents, down from HK2.50 cents in the same period last year[14]. - The profit for the period ended September 30, 2023, was HK$12,830,000, compared to HK$14,975,000 for the same period in 2022, indicating a decrease of about 7.6%[16]. - The Group's profit for the period was HK$12,830,000, compared to HK$14,975,000 for the same period in 2022, reflecting a decline of 14.3%[42][44]. - Profit for the Period decreased by approximately HK$2.1 million or 14.3% to approximately HK$12.8 million, with a net profit margin of approximately 5.5%[117][118]. Assets and Liabilities - Non-current assets increased to HK$58,267,000 as of September 30, 2023, compared to HK$32,730,000 as of March 31, 2023[15]. - Current assets totaled HK$220,817,000, a decrease from HK$239,438,000 as of March 31, 2023[15]. - Net current assets were HK$168,095,000, down from HK$187,650,000 as of March 31, 2023[15]. - Total assets as of September 30, 2023, were HK$279,329,000, an increase from HK$275,013,000 as of March 31, 2023[49]. - Total liabilities increased to HK$65,114,000 as of September 30, 2023, compared to HK$63,728,000 as of March 31, 2023[49]. - The Group had cash and cash equivalents of approximately HK$116.1 million, down from approximately HK$154.0 million[127]. Cash Flow and Investments - Net cash used in operating activities for the six months ended September 30, 2023, was HK$2,378,000, a significant decline from the net cash generated of HK$27,714,000 in the same period of 2022[18]. - Cash and cash equivalents at the end of the period decreased to HK$116,101,000 from HK$134,542,000, reflecting a decrease of approximately 13.7%[18]. - The net cash used in investing activities was HK$24,714,000 for the six months ended September 30, 2023, compared to HK$598,000 in the same period of 2022, indicating a substantial increase in investment outflows[18]. - Additions to property, plant, and equipment amounted to approximately HK$28,583,000, significantly higher than the HK$527,000 recorded in the same period last year[75]. Dividends - The company paid a final dividend of HK$9,900,000 for the period, compared to HK$8,838,000 in the previous period, marking an increase of about 12%[16]. - The final dividend paid was HK$9,900,000, with a per share dividend of HK1.650 cents, compared to HK$8,838,000 and HK1.473 cents per share in the previous year, marking an increase of approximately 12.0% in total dividend[65][67]. - The Group has resolved not to declare any interim dividend for the six months ended 30 September 2023, compared to no interim dividend declared in the same period last year[68]. Operational Highlights - The principal activities of the company include providing environmental hygiene and airline catering support services in Hong Kong[21]. - Revenue from environmental hygiene and related services was HK$231,673,000, while revenue from airline catering support services was HK$2,037,000[54][56]. - Segment results for environmental hygiene and related services were HK$21,139,000, while airline catering support services contributed HK$151,000 to the segment results[42]. - The Group secured 13 new environmental hygiene service projects during the Period, with a total contract value exceeding HK$67.0 million, compared to 10 projects valued at HK$22.5 million in the same period of 2022[97]. - The Group's contract renewal rate for the Period remained stable at 88.9%, slightly up from 88.6% in the Comparative Period[97]. - The overall tender success rate increased to 30.7% from 20.5% in the Comparative Period[97]. - The airline catering support services resumed operation in April 2023, although it did not contribute significantly to revenue during the Period[101]. Governance and Compliance - The Company has complied with the Corporate Governance Code during the six months ended September 30, 2023, with some deviations noted[183]. - The Company has established an Audit Committee to oversee financial reporting, risk management, and internal control systems[190]. - The Company has three independent non-executive Directors on its Audit Committee, ensuring oversight and governance[189]. - The Company has adopted the Model Code as its code of conduct for securities transactions by Directors, with all Directors confirming compliance during the reporting period[195]. - The Company has made specific inquiries to all Directors regarding their compliance with the Model Code, confirming adherence to the required standards[197]. Future Outlook - The Company has not provided specific guidance for future performance or new product developments in the interim report[10]. - The Group anticipates continuous growth in demand for environmental hygiene services, particularly in hospitality, food and beverage, and retail sectors[103]. - The Group is exploring potential horizontal business development opportunities, including geographic expansion and property-related synergized services[103].
永顺控股香港(06812) - 2024 - 中期财报