Core Viewpoint - SU Group Holdings Limited reported strong financial results for the fiscal year ended September 30, 2024, with significant growth in revenue and net income compared to the previous fiscal year, supported by strategic investments and operational efficiency [2][4]. Financial Performance - Revenues increased by 11.3% to HK$182.2 million (US$23.4 million) for the fiscal year ended September 30, 2024, up from HK$163.7 million (US$21.0 million) in the previous year [6][26]. - Net income rose by 8.7% to HK$10.7 million (US$1.4 million) for the fiscal year ended September 30, 2024, compared to HK$9.8 million (US$1.3 million) for the fiscal year ended September 30, 2023 [16][26]. - The net income per share increased to HK$0.82 from HK$0.81 year over year [6][26]. Business Segments - The security-related engineering services business saw a revenue increase of 9.0% to HK$107.0 million (US$13.8 million) for the fiscal year ended September 30, 2024, from HK$98.1 million (US$12.5 million) in the previous year [8][6]. - The company provides a range of services including security systems installation, maintenance, and security guarding and screening services [5][7]. Cost and Profitability - Cost of revenues increased by 16.4% to HK$134.6 million (US$17.3 million) for the fiscal year ended September 30, 2024, from HK$115.6 million (US$14.9 million) in the previous year [9][26]. - Gross profit slightly decreased by 0.9% to HK$47.6 million (US$6.1 million) for the fiscal year ended September 30, 2024, down from HK$48.0 million (US$6.2 million) [10][26]. - The gross profit margin was 26.1% for the fiscal year ended September 30, 2024, compared to 29.3% in the previous year [11][26]. Operational Efficiency - Selling, general and administrative expenses decreased by 2.1% to HK$36.0 million (US$4.6 million) for the fiscal year ended September 30, 2024, from HK$36.8 million (US$4.7 million) [12][26]. - The company achieved a significant reduction in trade receivables, decreasing by 37.5% to HK$21.9 million (US$2.8 million) as of September 30, 2024, from HK$35.0 million (US$4.5 million) [17][26]. Cash Flow and Capital Structure - Net cash provided by operating activities was HK$14.1 million (US$1.8 million) for the fiscal year ended September 30, 2024, compared to a net cash used in operating activities of HK$13.5 million (US$1.7 million) in the previous year [21][26]. - The company had a cash and cash equivalents balance of HK$52.3 million (US$6.7 million) and working capital of approximately HK$82.1 million (US$10.6 million) as of September 30, 2024 [22][26].
SU Group Holdings Reports 11% Revenue Growth For Fiscal Year 2024