Hong Kong Ferry reports interim results FY2024 Revenue up 23% | 21.08.24

Highlights of the financial results The Group’s revenue for the 6 months ended 30 June 2024 was HK$211 million, an increase of 23% compared to the same period last year. The Group’s unaudited consolidated net profit after tax was HK$87.5 million, which was in line with that for the corresponding period in 2023. Earnings per share were HK$0.25. An interim dividend of HK$10 cents per share was declared for fiscal year 2024.

(August 21, 2024, Hong Kong） – Hong Kong Ferry (Holdings) Company Limited (the “Company”, together with its subsidiaries referred to as the “Group”; SEHK stock code: 0050) today announced its interim results for the six months ended 30 June 2024.

Period under review

The Group’s unaudited consolidated net profit after tax for the six months ended 30 June

In 2024, expenditure was HK$87.5 million, which was in line with expenditure in the corresponding period in 2023.

Earnings per share were HK$0.25, which was the same as the figure for the corresponding period of

previous year. Excluding the fair value change of the investment properties, the Group’s underlying profit is

attributable to shareholders for the period in question amounted to HK$85.5 million, representing an increase

of 28% compared to the same period last year.

The Board of Directors has declared an interim dividend of HK$10 cents per share (2023: interim dividend of HK$10 cents per share) in respect of the year ending 31 December 2024. The interim dividend will be paid on Friday 27 September 2024 to shareholders whose names are listed in the register of members at the close of business on Thursday 12 September 2024.

Real estate development and investment activities

The gross rental income during the period under review arising from the shops and shopping arcades
of the Group amounted to HK$63 million, an increase of 6% compared to the same period last year
year. At the end of the reporting period, the commercial arcades of Shining Heights, The Spectacle and
Metro6 was fully leased and the occupancy rate of Green Code Plaza and Metro Harbour Plaza was
72% and 95% respectively. The increase in gross rental income and the change in occupancy rates were
This is mainly attributed to the change in the tenant mix.

The Royale (8 Castle Peak Road – Castle Peak Bay, Tuen Mun) Joint Venture Development Project

In the first half of 2024, two residential units were sold. The remaining residential units and car
Parking spaces are offered for sale.

The Symphonie redevelopment project (280 Tung Chau Street, Cheung Sha Wan)

The Group’s redevelopment project ”The Symphonie” in Cheung Sha Wan offers gross residential supply
floor area of ​​approximately 100,698 square feet. The certificate of compliance was obtained in November last year
year. The interior design work is basically completed. The preparations for the sale or rental of the strata will
soon in place. Due to strong demand in the Hong Kong rental market, rental income is

increased. Some units may be used for rental purposes to increase the Group’s regular income.

Ferry, shipyard and related activities

During the period under review, the ferry, shipyard and related activities recorded a deficit of HK$3

million, a decrease of 23% compared to the deficit in the same period last year. This was mainly due to

to the increase in the tariff for the operation of the dangerous goods ferry ”North Point – Kwun Tong”

service approved by the Ministry of Transport since January 28, 2024, as well as the continued recovery of Hong Kong’s tourism sector, which has contributed to the growth of the Harbour Cruise – Bauhinia business.

Healthcare, medical aesthetic and beauty services

The number of clients of the medical-aesthetic clinic ”AMOUR” in Mira Place in Tsim Sha

Tsui, which has a floor area of ​​approximately 12,000 square feet, has been growing continuously since its opening. For the six months ended June 30, 2024, revenue increased by 280% compared to the same period last year. As of June 30, 2024, HK$12 million was recorded as payments received for prepaid packages, which in accordance with standard accounting practices was not included in the profit and loss account for the period in question.

The Group is gradually expanding its medical specialties. In addition to the collaboration with

ICON, an international medical group for cancer care, is to set up a cancer centre at H Zentre in Tsim Sha

Tsui, the Group also has the ”Total HealthCare Specialists Centre” located in the same building,

which provides specialized services in the fields of cardiology, surgery, orthopedics, plastic surgery and rheumatology

and urology. Performance has been steadily increasing and net profits have continued to grow

that were recorded in the reporting period.

During the reporting period, the Group launched its pain management activities and provided services

respectively at Mira Place in Tsim Sha Tsui and Metro Harbour Plaza in Tai Kok Tsui. The group

introduced advanced medical equipment in collaboration with professionally registered chiropractors and

sports therapists, to create personalized treatment plans for patients with pain. These services were well received.

Outlook

Rental income from shops and shopping arcades, together with interest income from banks, is expected to remain the Group’s main sources of income in the second half of the year.

Mr. Gabriel Lee, General Manager of Hong Kong Ferrysaid: “Over the past decades, the Group has successfully transformed itself from a ferry and shipyard focused company into an integrated conglomerate. Going forward, the Group will remain committed to supporting our communities by always “putting people first” in our diversified development, seizing every opportunity to protect health and well-being, and striving to meet its responsibilities and commitments for social development.”

For further information, please refer to the 2024 Interim Results Announcement on the Company’s website (www.hkf.com) and the HKEX News website (www.hkexnews.hk).

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About Hong Kong Ferry (Holdings) Company Limited

Hong Kong Ferry (Holdings) Company Limited, established in 1923, is mainly engaged in property development and investment in addition to its ferry business, and in maximizing the potential of its land resources, and sharing 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

Telephone: (852) 2159 7719 / 2159 7714

Fax: (852) 3568 8941

Email address: [email protected]