Financial Performance - The company reported a profit of HKD 102,385,000 for the period, compared to HKD 67,154,000 in the previous year, representing a significant increase[1]. - Total comprehensive income for the period was HKD 221,466,000, up from HKD 36,041,000 year-over-year[2]. - The company reported segment profit of HKD 167,756,000, compared to HKD 95,316,000 in the previous year, indicating a substantial increase of approximately 76%[23]. - The profit before tax for the period was HKD 136.188 million, up from HKD 81.539 million year-on-year[26]. - Profit attributable to shareholders rose by 46.4% to HKD 101 million from HKD 69 million year-on-year[54]. - Net profit attributable to shareholders for the period was HKD 102,385, up from HKD 67,154, which is an increase of approximately 52.4%[142]. - Other comprehensive income for the period was HKD 119,081, compared to HKD 31,113 in the previous year, indicating a substantial increase of approximately 282.5%[143]. Revenue Growth - Total revenue from reportable segments reached HKD 2,619,888,000, an increase from HKD 2,443,468,000, reflecting a growth of approximately 7.2%[11]. - Total revenue for the six months ended April 30, 2023, was HKD 2.493 billion, an increase of 6.3% compared to HKD 2.345 billion in the same period last year[38]. - Revenue from exhibitions, projects, and brand activations increased by 12.3% to HKD 2.149 billion, compared to HKD 1.914 billion in the previous year[43]. - Revenue from conference planning activation increased by 14.3% to HKD 32 million, up from HKD 28 million in the previous year[78]. - Revenue for the six months ended April 30, 2023, was HKD 2,493,180, an increase from HKD 2,344,692 in the same period of 2022, representing a growth of approximately 6.4%[142]. Asset and Equity Growth - The company’s net assets amounted to HKD 2,326,660,000, compared to HKD 2,186,180,000 in the previous year, indicating a growth of about 6.4%[18]. - The company’s equity attributable to shareholders was HKD 2,251,444,000, up from HKD 2,105,432,000, reflecting an increase of approximately 6.9%[18]. - The total net asset value attributable to shareholders increased by 9.0% to approximately HKD 1.76 billion from HKD 1.62 billion[113]. Cost and Expenses - Interest expenses on bank borrowings increased to HKD 17,466,000 from HKD 5,577,000, showing a rise of approximately 213%[14]. - Employee costs for the period amounted to HKD 454,000,000, up from HKD 433,000,000 in the previous six months[117]. - The company reported a financing cost of HKD (20,580), which increased from HKD (8,681) in the previous year, reflecting a rise in financing expenses[142]. Dividends - The interim dividend declared was HKD 0.02 per share, compared to no interim dividend in the same period last year[33]. - The company proposed an interim dividend of HKD 0.02 per share, compared to no dividend in the same period last year[56]. Operational Efficiency and Strategy - The group aims to enhance operational efficiency through data-driven strategies and technology innovation[42]. - The group aims to enhance its data-driven business model, leveraging data, AI, and related technologies to improve profitability and operational efficiency[125]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[150]. Market and Project Development - The group is collaborating with K11 Group on the 11 SKIES project, which will feature over 800 stores and a total floor area of more than 353,000 square meters[70]. - The company is actively seeking opportunities in emerging industries, including projects in agriculture and aviation with Bombardier and Guangdong Haida Group[105]. - The group is involved in various museum and theme entertainment projects, including the Hong Kong Palace Museum and the Saudi National Museum[71]. - The group has delivered numerous physical projects, including the opening ceremony of the 25th Arabian Gulf Cup in Basra, Iraq[84]. - The group is set to deliver major projects across various regions, including the Asia Vaccine Conference and the FUTR Europe Summit[125]. Financial Position - The company’s total assets less current liabilities stood at HKD 2,850,113,000, compared to HKD 2,756,778,000, marking an increase of around 3.4%[3]. - The current ratio improved slightly to 1.50 times from 1.49 times year-on-year[76]. - The debt ratio decreased to 8.30% from 9.56% in the previous year[76]. - The total borrowings decreased to HKD 696 million from HKD 804 million, a reduction of 13.4%[95]. - The total liabilities secured by assets as of April 30, 2023, were HKD 111,865,000, a decrease from HKD 210,063,000 as of October 31, 2022[119]. Digital Transformation - The company continues to integrate digital interactive elements such as the metaverse and augmented reality into projects and brand activations[62]. - The VX Events platform has facilitated multiple events transitioning to virtual or hybrid formats, addressing the growing demand for digital solutions[92].
PICO FAR EAST(00752) - 2023 - 中期业绩