Hong Kong Ferry announces FY2025 interim results Revenue decreases by 5%
Source EQS
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Highlights of financial results
（21 August 2025, 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 interim results today for the six months ended 30 June 2025.
Period Under Review During the period under review, the Group’s underlying profit for the six months ended 30 June 2025 was HK$69 million, representing a decrease of approximately 19% from the same period last year. Taking into account the fair value change of the investment properties, the Group’s profit attributable to shareholders for the six months ended 30 June 2025 was HK$122 million, representing an increase of approximately 36% from the same period last year. Earnings per share was HK$0.34 as compared with HK$0.25 over the corresponding period of last year. The Board of Directors (the ‘‘Board’’) has declared an interim dividend of HK10 cents per share (2024: interim dividend of HK10 cents per share) for the six months ended 30 June 2025. The interim dividend will be paid on Friday, 26 September 2025 to shareholders whose names appear on the Register of Members of the Company at the close of business on Friday, 12 September 2025. Property Development and Investment Operations The gross rental income arising from the shops and commercial arcades of the Group during the period under review amounted to HK$60 million, a decrease of 5% as compared with the same period last year. At the end of the reporting period, the commercial arcades of Metro6 were fully let. The occupancy rates of the commercial arcades of Shining Heights and The Spectacle were 95% and 91% respectively, and the occupancy rates of the commercial arcades of Green Code Plaza and Metro Harbour Plaza were 87% and 80% respectively. The decreases in gross rental income and occupancy rates were mainly attributed to certain tenants’ inability to cope with market downturn and operational difficulties. The Group will refine its leasing strategy by introducing new brands and operators to sustain gross rental income and occupancy rates. The Royale (8 Castle Peak Road - Castle Peak Bay, Tuen Mun) Joint Venture Development Project The Group has already delivered to buyers the 1,748 residential units sold. Some of the residential units are arranged for lease to increase the Group’s recurrent revenue. The Symphonie (280 Tung Chau Street, Cheung Sha Wan) Redevelopment Project Due to the improvement in private residential rental market in Hong Kong, rental yields have increased. The Group has been approved by the Urban Renewal Authority to convert the residential portion of ‘‘The Symphonie’’ for use as a youth hostel. This two-tower youth hostel will be operated by Tung Wah Group of Hospitals and named as ‘‘TN Residence’’, which is the sixth project approved by the Home and Youth Affairs Bureau under the Subsidy Scheme for Using Hostels and Guesthouses as Youth Hostels. The Group began receiving rental income at the agreed market level starting from the end of June this year. Acquisition of Shops at Portion A of Ground Floor of Tai Hung Fai (Tsuen Wan) Centre (No. 55 Chung On Street, Tsuen Wan) On 19 August 2025, the Group (through a wholly-owned subsidiary) entered into a provisional agreement with an independent third party vendor to acquire the property comprising various shops at Portion A of Ground Floor (with a gross floor area of approximately 12,720 square feet) and Signage Areas of ‘‘Tai Hung Fai (Tsuen Wan) Centre’’ at No. 55 Chung On Street, Tsuen Wan, New Territories, Hong Kong, which is a commercial development, at the consideration of HK$260,000,000 (the ‘‘Acquisition’’). The property is sold subject to various existing tenancies and licenses. The monthly rental and license fee income in August 2025 is approximately HK$1.22 million, representing an annualised gross rental yield of approximately 5.6% based on the purchase price of HK$260,000,000. The Group currently intends to hold the property for investment purpose. The Acquisition constitutes a discloseable transaction of the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules. Completion of the Acquisition is scheduled to take place on or before 30 September 2025. Further details of the Acquisition are set out in another announcement of the Company dated 19 August 2025. Ferry, Shipyard and Related Operations During the period under review, the Ferry, Shipyard and Related Operations recorded a deficit of HK$12.5 million, an increase of HK$9.5 million as compared to the deficit in the same period last year. The main reason for the increase in deficit is the decline in revenue from Harbour Cruise - Bauhinia business caused by the replacement of a damaged engine in one vessel during the first half of the year. The Group has successfully obtained approval from the Transport Department for a fare increase on the ‘‘North Point - Kwun Tong’’ dangerous goods vehicular ferry service. The new fares took effect on 12 April 2025, and the deficit is expected to be reduced in the second half of the year. Medical, Healthcare and Beauty Services The Group is currently providing specialised services in cardiology, surgery, orthopedics, plastic surgery and urology at H Zentre in Tsim Sha Tsui. The performance has been steadily on the rise and net profits have continued to be recorded during the period under review. The Group’s spine and pain centres established under the brand ‘‘Total HealthCare’’ at Mira Place, Tsim Sha Tsui and Metro Harbour Plaza, Tai Kok Tsui respectively are gradually getting on track. The Hong Kong Government is actively promoting public health, and its reform measures for the medical system are increasingly focused on disease prevention. In view of this, the Group has introduced advanced medical equipment in conjunction with professional registered chiropractors and sports trainers, to provide personalised treatment plans for pain-suffering patients, which helps improve the health of patients. To extend its services and better address the rehabilitation needs of various patients in orthopedics, post-surgery and various types of injuries, the Group has also partnered with a professional fitness centre with over 20 years of experience in Hong Kong to establish a physiotherapy center at H Zentre. The center will provide customised training and rehabilitation programs tailored to individual patients, and is expected to commence operations in the third quarter this year.
The number of customers of the ‘‘AMOUR’’ medical aesthetic centre located at Mira Place, Tsim Sha Tsui, with a floor area of about 12,000 square feet, has increased continuously since its opening. The turnover for the six months ended 30 June 2025 was HK$22 million, an increase of 26% compared with the same period last year. As at 30 June 2025, HK$15 million was recorded as payments received for prepaid packages, which in accordance with standard accounting practices had not been included in the income statement of the period under review. As the ‘‘AMOUR’’ medical aesthetic centre approaches its third anniversary, it has expanded its leased space at Mira Place to leverage existing infrastructure and create operational synergies. This enhancement allows the centre to deliver an elevated experience for its esteemed clientele, enabling the Group to offer a broader range of services and accommodate growing customer demand. During the period under review, although the Group’s healthcare and beauty businesses did not record a net profit, it achieved overall positive earnings before interest, taxes, depreciation and amortisation. The Group will continue discussing with specialist doctors, specialist centres, and medical equipment and product suppliers for co-operation from time to time to seek expansion in the medical, healthcare and beauty businesses. Prospects Looking ahead to the second half of the year, the Group expects its major sources of revenue to be property rentals and bank interest income. The Group has stable cash flows and will adjust leasing strategies tailored to market demand, optimise tenant mix consistently and keep a close watch on property market conditions to identify suitable investment opportunities. Mr. Gabriel Lee, General Manager of Hong Kong Ferry, said, “Over the past decades, the Group has successfully transformed itself from a ferry and shipyard focused business into an integrated conglomerate. Moving forward, 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.” For more details, please refer to the 2025 interim 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 is principally engaged in property development and investment, Ferry and shipyard operations, medical, healthcare and beauty services. For further information, please contact: Karen Chui Tel: (852) 2159 7719 Fax: (852) 3568 8941 Email: ir@hkf.com
20/08/2025 Dissemination of a Financial Press Release, transmitted by EQS News. |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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