Hong Kong Ferry announces 900% increase in net profit for FY2022

 

Hong Kong Ferry announces 900% increase in net profit for FY2022

 

（22 November 2022, 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) announces that based on the assessment of the latest unaudited consolidated management accounts of the Group and the information currently available, the Group expects to record a significant increase of more than 900% in the consolidated net profit for the year ending 31 December 2022 as compared to the audited consolidated net profit of approximately HK$118 million for the year ended 31 December 2021.

 

Such increase in profit is mainly attributable to the delivery of the residential units sold to the buyers under the joint venture project of the Group known as “The Royale” (8 Castle Peak Road – Castle Peak Bay, Tuen Mun) and the revenue from such property sales resulting in the increase in the share of profits of the joint venture recognised in the Group’s accounts.

 

Mr. Gabriel Lee, General Manager of Hong Kong Ferry, said, “Over the past decades, the Group has successfully transformed from a ferry and shipyard focused business into an integrated conglomerate. Looking ahead, the Group is optimistic about the business performance. 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, and strive to fulfill its responsibilities and commitments for social development.”

 

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 to the public.

 

For further information, please contact:

Karen Chui / Josephine Wu

Tel:     (852) 2159 7719 / 2159 7714

Fax:    (852) 3568 8941

Email: ir@hkf.com