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PICO FAR EAST(00752) - 2023 - 年度业绩
PICO FAR EASTPICO FAR EAST(HK:00752)2024-01-23 04:00

Financial Performance - The company's revenue for the year ended October 31, 2023, was HKD 5,327,931 thousand, an increase from HKD 4,541,018 thousand in the previous year, representing a growth of approximately 17.3%[41]. - Gross profit for the same period was HKD 1,590,594 thousand, compared to HKD 1,359,069 thousand in the prior year, indicating a year-over-year increase of about 17%[41]. - The core operating profit rose to HKD 359,951 thousand, up from HKD 208,894 thousand, reflecting a significant increase of approximately 72.5%[41]. - The net profit attributable to shareholders for the year was HKD 228,083 thousand, compared to HKD 162,642 thousand in the previous year, marking an increase of around 40.3%[41]. - Basic earnings per share increased to 18.41 cents from 13.13 cents, representing a growth of approximately 40.3%[41]. - Total comprehensive income for the year was HKD 268,288 thousand, compared to a loss of HKD 41,196 thousand in the previous year[36]. - The company reported a significant increase in profit before tax to HKD 301,132 thousand, compared to HKD 183,345 thousand in the previous year, representing a growth of approximately 64.3%[41]. - The total profit for the reportable segments in 2023 was HKD 376,342, up 61.5% from HKD 232,663 in 2022[56]. - The company reported a pre-tax profit of HKD 288,760 for 2023, compared to HKD 180,890 in 2022, marking a growth of 59.7%[63]. Revenue Breakdown - Revenue from external customers in the exhibition and project activation segment was HKD 4,413,088,000, accounting for 82.8% of total revenue[54]. - Revenue from exhibitions, projects, and brand activations amounted to HKD 4.413 billion, up from HKD 3.690 billion in the previous year, reflecting a growth of 19.6%[73]. - Revenue from visual brand activations was HKD 383.4 million, slightly up from HKD 363.9 million, indicating a growth of 5.4%[73]. - Revenue from museum and theme entertainment was HKD 396.9 million, a marginal increase from HKD 394.5 million, showing a growth of 0.6%[73]. - The revenue from the exhibition segment was HKD 3.83 billion, representing 7.2% of total group revenue, with a profit of HKD 32 million[145]. Investments and Expenditures - Capital expenditures related to properties, plants, and equipment amounted to HKD 13,450,000, an increase of 61.1% from HKD 8,347,000 in 2022[15]. - The group invested HKD 20 million in property, plant, and equipment, compared to HKD 14 million in 2022[26]. - The group invested HKD 34 million in intangible assets, down from HKD 74 million in 2022[26]. Corporate Governance and Financial Discipline - The company has maintained a high level of corporate governance, adhering to the Hong Kong Stock Exchange's corporate governance code[8]. - The group has implemented robust financial discipline to ensure long-term profitability, resulting in improved debt ratios due to significant reductions in long-term and short-term bank borrowings[133]. Market Outlook and Strategy - The company is optimistic about growth in the Greater China and Southeast Asia regions, with a focus on expanding operations in Saudi Arabia to capture emerging opportunities[17]. - The company anticipates a slow overall growth in the global economy for 2024, as per the International Monetary Fund's outlook[17]. - The company has a cautious yet optimistic outlook for its operations, particularly in international markets, as consumer behavior shifts post-pandemic[17]. - The group plans to leverage opportunities from Saudi Arabia's Vision 2030, with ongoing projects including NEOM and the largest light art festival, Noor Riyadh[103]. Operational Efficiency and Technology Integration - The integration of AI, data, and Web3 technologies is expected to enhance operational efficiency and broaden service offerings, aligning with evolving market expectations[3]. - The group is advancing the AI-supported PowerONE integrated IT system to enhance operational efficiency and become a fully data-driven enterprise[105]. - The group has developed a proprietary data management system to assist clients in making informed decisions and optimizing business operations[164]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.07 per share for the year, subject to shareholder approval[65]. - The board proposed a final dividend of HKD 0.07 per share, totaling HKD 0.09 for the year, which represents 48.9% of the earnings per share of HKD 0.1841[128]. Foreign Exchange and Risk Management - The group has no hedging policy in place to mitigate foreign exchange risks[29]. Employee and Operational Metrics - Employee costs for the year amounted to approximately HKD 1.175 billion, up from HKD 987 million in 2022[30]. - The company has established 47 permanent offices across 36 cities, employing approximately 2,300 long-term staff as of October 31, 2023[102]. Project Highlights - The group is involved in significant projects including the Hong Kong History Museum and the Hong Kong Wetland Park, expected to be completed in 2024 and 2025 respectively[22]. - The group has been appointed as a designated supplier for GAC Aion's 200 stores plan in Southeast Asia for 2024[19]. - The group activated 14 brands at the Guangzhou International Auto Show and 25 brands at the Chengdu International Auto Show, highlighting significant engagement in major automotive exhibitions[138].