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Hang Yick Holdings(01894) announced the interim results for the six months ended September 30, 2022. During the period, the group achieved a revenue of HK$111 million, a year-on-year increase of 1.58%; the profit attributable to shareholders was HK$6.399 million, a year-on-year decrease of 46.88%; The basic profit was 0.8 Hong Kong cents.
According to the announcement, during the reporting period, the gross profit of the group decreased from approximately HK$27.4 million to approximately HK$16.4 million, a decrease of approximately 40.0% compared with the corresponding period in 2021. The decrease in gross profit was mainly due to the long-term delay of the construction project due to the epidemic during the reporting period, resulting in labor shortages and delays in the delivery of construction materials from China to Hong Kong, China. The progress of the construction project was thus affected, which affected the Group’s planning work and Production progress, and the group accepting orders with lower profit margins to cope with difficult times; and cross-border transportation costs have increased significantly due to epidemic prevention measures.
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