Hong Kong Ferry Reports HK$79.82M Half-Year Profit, Declares HK$0.1 Dividend
On.cc · 1 SOURCESabout 3 hours ago2 MIN
Summary
Hong Kong Ferry Company Limited announced first-half net profit of HK$79.82 million, with the board declaring an interim dividend of HK$0.1 per share. The company's total revenue reached HK$239 million, representing a 20% year-on-year increase, according to its financial report .
Key Points
- Real estate investment emerged as the largest revenue contributor at HK$123 million, climbing 49.68% year-on-year, though segment profit fell 17% to HK$69.12 million
- Shopping mall, shop, and youth hostel gross rental income reached approximately HK$97 million, surging 60% year-on-year due to contributions from the Tung Wah Yung Hong (Tung Wah) Youth Residence and the Tai Hung Fai (Tsuen Wan) Centre
- Ferry, shipyard, and related operations generated revenue of HK$85.13 million, up 13.99% year-on-year, though this segment still recorded a loss of approximately HK$9 million, narrowed by HK$3.4 million from the same period last year
- The ferry division's loss narrowed as overall revenue growth offset losses from elevated fuel costs affecting dangerous goods vehicle transport services
- Medical, health, and beauty services revenue jumped 34.1% to HK$34.18 million, turning profitable with approximately HK$1.31 million compared to a loss of HK$3.78 million in the prior-year period
Why It Matters
Hong Kong Ferry's diversification strategy appears to be yielding results, with non-ferry businesses now accounting for the majority of revenue. The strong performance of its property portfolio, particularly newly consolidated youth housing projects, demonstrates how traditional ferry operators are adapting to Hong Kong's evolving transport and housing landscape. The medical and wellness segment's return to profitability suggests the company is successfully expanding beyond its core maritime operations.
Hong Kong Ferry's diversification strategy appears to be yielding results, with non-ferry businesses now accounting for the majority of revenue. The strong performance of its property portfolio, particularly newly consolidated youth housing projects, demonstrates how traditional ferry operators are adapting to Hong Kong's evolving transport and housing landscape. The medical and wellness segment's return to profitability suggests the company is successfully expanding beyond its core maritime operations.