Hong Kong Ferry announces FY2022 annual results 999% Increase in net profit for FY2022 Special dividend to celebrate 100th anniversary

EQS Newswire / 20/03/2023 / 16:04 UTC+8

[For Immediate Release]

 

Hong Kong Ferry announces FY2022 annual results

999% Increase in net profit for FY2022

Special dividend to celebrate 100th anniversary
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Highlights of financial results

  1. The Group’s revenue for the year ended 31 December 2022 amounted to HK$281 million, up by 15% as compared to last year.
  2. Net profit after taxation for FY2022 amounted to HK$1,299 million, up by 999% as compared to last year.
  3. The significant increase in profit was mainly attributable to the recognition of the Group’s share of revenue from the sale of the residential units under the joint venture development project ‘‘The Royale’’ (in which the Group has a 50% equity interest) during the year after the delivery of the residential units to the buyers.
  4. Earnings per share amounted to HK$3.65.
  5. The Board of Directors recommended a basic dividend and special dividend of HK15 cents and HK$1 per share respectively. The special dividend was declared in celebration of the 100th anniversary of the Group.

 

 

20 March 2023, Hong Kong   Hong Kong Ferry (Holdings) Company Limited (the “Company”, which together with its subsidiaries, is referred to as the “Group”; SEHK stock code: 0050) announced annual results for the year ended 31 December 2022.

 

Period Under Review

 

For the year ended 31 December 2022, profit attributable to shareholders of the company increased by 999 % to HK$1,299 million. Earnings per share was HK$3.65 (2021: HK33 cents per share). The Board of Directors recommended the payment of a final dividend for the year ended 31 December 2022 of HK15 cents per share (2021: final dividend of HK15 cents per share). In celebration of the 100th anniversary of the establishment of the Group, a special dividend of HK$1 per share was also proposed.

 

After the Group’s 50%/50% joint venture development project with the Empire Group at The Royale, 8 Castle Peak Road – Castle Peak Bay, Tuen Mun, obtained the Certificate of Compliance in August 2022, the 1,738 residential units sold had been delivered to buyers and revenue from such property sales was recognised in the Group’s accounts.

 

The Group’s development project ‘‘The Symphonie’’ in Cheung Sha Wan will provide the Group with residential gross floor area of about 100,698 square feet after the redevelopment. The superstructure works were completed and interior fitting-out works were in progress. The project is expected to be completed in early 2024.

The Group also embarked on medical aesthetic business, and further provided customers with medical specialist, healthcare and beauty services. AMOUR medical aesthetic clinic and premium beauty service centre, located in Mira Place, Tsim Sha Tsui, and with a gross floor area of about 12,000 square feet, were officially opened in August last year. Staffed by registered doctors, the said clinic and centre are equipped with devices and drugs  xcertified by the European Union and the United States Food and Drug Administration and pharmaceutical companies, offering high-quality and personalized medical aesthetic services.

 

The Group has captured market share through cooperation with medical groups. The Group cooperated with ICON, an international cancer care medical group, to set up a cancer centre at H Zentre in Tsim Sha Tsui in October 2022, with experienced doctors and medical professionals offering safe, comprehensive and professional treatment for patients with different types of cancer. The Group has also expanded into the area of medical specialties with establishment of the Total HealthCare Specialists Centre. The centre has been setup and located in H Zentre, Tsim Sha Tsui, to leverage on the other medical disciplines being offered by other medical institutions within our ecosystem to offer professional medical services in accordance with the customers’ needs.

 

Prospects

 

This year marks the 100th anniversary of the Company. In addition to the distribution of a special dividend of HK$1 per share to its shareholders, the Company will also give commemorative gold coins of half a tael each to the employees of the Group. The Group will also organize various celebration activities, including the 100th anniversary celebration ceremony in late April, an invitation for mentees and mentors of the Strive and Rise Programme to enjoy the Harbour Cruise-Bauhinia trip, and gift of souvenirs to business partners.

 

Following the recognition of the revenue from the sale of the residential units of ‘‘The Royale’’ in 2022, the rental income from shops and commercial arcades will be the major source of revenue of the Group in 2023. The Group will continue to look for suitable shops for investment and construction sites for development.

 

Mr. Gabriel Lee, General Manager of Hong Kong Ferry, said, “2023 marks the 100th anniversary of the Hong Kong Ferry Group. Over the past century, the Group has successfully transformed itself from a ferry and shipyard focused business into an integrated conglomerate. Looking ahead, the Group will remain committed to supporting our communities by always “Putting people first” across our diversified development, seizing each opportunity to guard the health and wellbeing in the Greater Bay Area, and strive to fulfill its responsibilities and commitments for social development and to create value for shareholders.”

 

For more details, please refer to the 2022 annual results announcement on the Company website at www.hkf.com and the HKEX News website at www.hkexnews.hk.

 

-End-

 

About Hong Kong Ferry (Holdings) Company Limited

Established in 1923, Hong Kong Ferry (Holdings) Company Limited in additional to its ferry business, is principally engaged in property development and investment, and to maximize the potential of its land resources, and to share synergies with Henderson Land Group. Since 2022, the Group has expanded and diversified into medical, aesthetic, healthcare services and products, and is committed to providing the most professional, safe, and effective services.

 

For further information, please contact:

Karen Chui / Josephine Wu

Tel:     (852) 2159 7719 / 2159 7714

Fax:    (852) 3568 8941

Email: ir@hkf.com

File: Hong Kong Ferry announces FY2022 annual results 999% Increase in net profit for FY2022 Special dividend to celebrate 100th anniversary

20/03/2023 Dissemination of a Marketing Press Release, transmitted by EQS News.
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