Revenue and Profitability - Revenue for the six months ended September 30, 2023, was HK$387,207,000, an increase from HK$341,637,000 in the same period last year, representing a growth of 13.3%[7] - Gross profit for the period was HK$48,026,000, compared to HK$41,410,000 in the previous year, reflecting a gross margin improvement[7] - Profit for the period decreased to HK$2,958,000 from HK$11,313,000, indicating a decline of 73.8% year-over-year[7] - Earnings per share for the period were HK$0.02, down from HK$0.03 in the same period last year[9] - Total comprehensive income for the period was HK$1,197,000, compared to a loss of HK$3,095,000 in the previous year[9] - The Group's earnings for the six months ended September 30, 2023, were HK$9,780,000, a decrease of 41.4% compared to HK$16,661,000 for the same period in 2022[128] - The consolidated profit attributable to the owners of the Company amounted to approximately HK$9.8 million, a decrease of 41.3% from approximately HK$16.7 million for the 2022 Corresponding Period[195] Expenses and Costs - Administrative and other expenses were HK$36,464,000, slightly increased from HK$36,463,000 year-over-year[7] - Finance costs rose to HK$14,002,000 from HK$8,315,000, marking a significant increase of 68.5%[7] - Other income and gains for the period were HK$5,983,000, down from HK$18,702,000 year-over-year[7] - Employee benefits expenses for the six months ended 30 September 2023 were HK$84,078,000, down from HK$85,973,000 in 2022[112] - Depreciation of property, plant, and equipment for the six months ended 30 September 2023 was HK$12,814,000, slightly up from HK$12,522,000 in 2022[112] Assets and Liabilities - As of September 30, 2023, total assets amounted to HK$1,048,714,000, a decrease from HK$1,055,888,000 as of March 31, 2023, reflecting a decline of approximately 0.68%[11] - Current liabilities increased to HK$225,211,000 from HK$193,035,000, representing a rise of about 16.67%[11] - Net current assets decreased slightly to HK$253,866,000 from HK$259,006,000, indicating a decline of approximately 1.67%[11] - Non-current liabilities decreased to HK$349,303,000 from HK$389,944,000, showing a reduction of about 10.43%[13] - The company's net assets increased to HK$474,200,000 from HK$473,003,000, reflecting a growth of approximately 0.25%[13] - Total equity attributable to owners of the Company rose to HK$488,669,000 from HK$480,509,000, marking an increase of about 1.45%[13] - Cash and bank balances increased to HK$160,915,000 from HK$127,196,000, representing a significant rise of approximately 26.54%[11] Revenue Segmentation - For the six months ended 30 September 2023, total revenue from contracts with customers was HK$382,770,000, an increase from HK$341,005,000 for the same period in 2022, representing a growth of approximately 12.3%[25] - Construction revenue under foundation and other civil works amounted to HK$311,961,000 for the six months ended 30 September 2023, compared to HK$267,142,000 in the prior year, reflecting a growth of about 16.8%[30] - Management fees income under premises revitalisation and enhancement was HK$68,915,000 for the current period, slightly down from HK$73,397,000 in the previous year, indicating a decrease of approximately 6.7%[30] - Rental income under premises revitalisation and enhancement reached HK$4,437,000 for the six months ended 30 September 2023, a significant increase from HK$632,000 in the same period last year, marking a growth of over 600%[25] - Revenue from external customers in Hong Kong was HK$380,331,000, up 13.0% from HK$336,618,000 in the previous year[73] - Revenue from the PRC increased significantly to HK$6,331,000 from HK$1,098,000, representing a growth of 476.5%[73] - Revenue from the Philippines decreased to HK$545,000 from HK$3,921,000, a decline of 86.1%[73] Cash Flow and Financing - Net cash from operating activities for the six months ended September 30, 2023, was HK$65,816,000, a significant increase from HK$733,000 in the same period last year[19] - Net cash used in investing activities was HK$6,822,000, compared to a net cash outflow of HK$31,168,000 in the previous year[19] - Net cash used in financing activities amounted to HK$38,575,000, a decrease from a net cash inflow of HK$18,167,000 in the prior year[19] - The net increase in cash and cash equivalents for the period was HK$34,063,000, compared to a decrease of HK$12,268,000 in the same period last year[19] - The company reported a repayment of bank borrowings totaling HK$16,953,000 during the financing activities[19] - The Group's total borrowings as of September 30, 2023, were HK$106,459,000, a decrease from HK$122,259,000 as of March 31, 2023[137] Corporate Governance and Compliance - The Company has committed to maintaining control by ensuring that key shareholders hold at least 51% of the shares[89] - The Company has complied with the Corporate Governance Code throughout the reporting period[91] - The interim financial information has not been audited and does not include all information required for a full set of financial statements[22] - The Group's financial statements have been prepared in accordance with the applicable disclosure provisions of the Hong Kong Stock Exchange and HKAS 34[24] Future Outlook and Strategy - The company is focusing on market expansion and new product development strategies to enhance future performance[7] - The Group aims to actively explore new opportunities and business diversification to capture new market opportunities and provide satisfactory long-term returns to shareholders[161] - The Group expects to recognize future revenue from construction contracts over the next 2 to 28 months[37]
义合控股(01662) - 2024 - 中期财报