CONNECT WITH US:
Aug, 12 2017 00:11 JST
Winson Holdings Hong Kong Limited
Winson Announces 2017 First Quarterly Results
HONG KONG, Aug, 11 2017 - (ACN Newswire) - Winson Holdings Hong Kong Limited ("Winson" or the "Group"; stock code: 8421), a Hong Kong-based service provider specialising in environmental hygiene services and airline catering support services, has announced its unaudited quarterly results for the three months ended 30 June 2017 ("2017" or the "Period under Review").
During the Period under Review, the Group's primary business activities, namely environmental hygiene service and related services and airline catering support services continued to perform favourably, with the combined revenue from the two businesses rose by approximately 7.2% year on year to approximately HK$122.1 million. Despite facing greater labour cost pressure in Hong Kong, the Group managed to achieve satisfying results with a year on year increase in gross profit of approximately 7.0% to approximately HK$17.8 million, with gross profit margin standing at approximately 14.6%. Profit for the Period under Review amounted to approximately HK$4.6 million (2016: approximately HK$1.6 million, after deduction of listing expenses), while net profit margin was approximately 3.8% as compared to that approximately 1.4% for the three months ended 30 June 2016. The Group remained in a healthy financial position as at 30 June 2017, with cash and cash equivalents of approximately HK$57.9 million.
During the Period under Review, the Group continued to draw on its industry experience and expertise to consolidate its leadership in the environmental hygiene service and airline catering support service industries and the long-standing ties with customers. Majority of the tenders and contracts awarded in both sectors during the Period under Review came from renewed or existing customers. As at 30 June 2017, the total value of new contracts awarded to the Group was approximately HK$2.8 million, while the total value of renewed contracts was approximately HK$87.3 million, increased by approximately 258.3% and decreased by approximately 12.9% respectively, as compare with relevant figures as at 30 June 2016. Being in a labour intensive and highly competitive industry, the Group is constantly exploring ways to control costs and increase the efficiency of all its operations.
Going forward, the management is cautiously optimistic about the development of the Group's two business segments. The Group expects the ageing working population and shrinking active labour force continue to affect labour intensive industries in Hong Kong. To attract graduates to the industry and retain high potential younger employees, the Group will provide various training to employees at all levels to enhance their skills and knowledge.
Heeding the rising labour cost in Hong Kong and the merits of using machines to replace certain manual labour, the Group is gradually adopting operational processes with a higher level of mechanisation coupled with upgrading existing equipment, which will strengthen the Group's more capacity to deliver high quality services more cost-effectively.
Madam Ng Sing Mui, Chairperson and Executive Director of Winson, said, "Boasting the well-respected "Winson" brandname and a dedicated workforce, the Group has kept expanding its scope of services and improving the quality of its services, and well-positioned itself to capture the opportunities arising in the upcoming years. Going forward, we will continue to bolster our effort on costs and risks control and at same time boost overall operational efficiency to the end of enhancing competiveness and ensuring the stable long-term growth of our businesses."
About Winson Holdings Hong Kong Limited (Stock code: 8421)
Winson Holdings Hong Kong Limited is a Hong Kong-based service provider specialising in environmental hygiene services and airline catering support services in Hong Kong. The Group started off as an environmental hygiene service provider in 1983 via the incorporation of Winson Cleaning. In 1993, the Group set up Winson Pest Control as a separate pest management service provider. To diversify the Group's business, the Group has commenced the provision of airline catering support services since 2013.
For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email:
Isabel Kwok Tel: (852) 2864 4824 Email:
Jacky Chiu Tel: (852) 2114 4313 Email:
Source: Winson Holdings Hong Kong Limited
Sectors: Daily Finance, Daily News
Copyright ©2017 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Renowned Designers and Architects to Judge and Mentor Aspiring Global Talent at Lexus Design Award 2018
Aug 21, 2017 17:50 JST
Hitachi Launches New TX Series Escalator for India, Asia and the Middle East
Aug 21, 2017 14:30 JST
A Strong Finish for TOYOTA GAZOO Racing in Germany
Aug 21, 2017 10:43 JST
TOYOTA GAZOO Racing Looks to Continue Momentum on German Asphalt
Aug 14, 2017 20:00 JST
Mitsubishi Motors Expands its Indonesian and ASEAN Footprint with All-New XPANDER People-Carrier
Aug 11, 2017 10:10 JST
DENSO Develops New 24-GHz Band Submillimeter-wave Radar Sensor
Aug 10, 2017 16:01 JST
Toyota: Industry Leaders to Form Consortium for Network and Computing Infrastructure of Automotive Big Data
Aug 10, 2017 13:48 JST
MHPS to Upgrade Cairo North Combined Cycle Power Station Module l in Egypt
Aug 10, 2017 12:27 JST
Fujitsu Aims for Renewable Energy Usage of at Least 6% by Fiscal 2018
Aug 10, 2017 11:26 JST
MHPS Launches New Integrated Fuel Cell and Gas Turbine Hybrid Power Generation System
Aug 09, 2017 18:52 JST
DENSO Establishes a New Company Designing Key Components Enabling Automated Driving
Aug 09, 2017 17:27 JST
Seven-Eleven Japan and Toyota Start Studies on Energy Conservation and CO2 Emissions Reduction in Distribution and at Stores
Aug 09, 2017 16:13 JST
NEC: World's Largest Transmission Capacity with Standard Diameter Multi-Core Optical Fiber
Aug 08, 2017 18:36 JST
Showa Denko (SDK) Announces 2017 Second Quarter Financial Results
Aug 08, 2017 15:00 JST
Mazda Announces Long-Term Vision for Technology Development, 'Sustainable Zoom-Zoom 2030'
Aug 08, 2017 13:15 JST
Fujitsu Releases 30 New Enterprise PC, Workstation, and Tablet Models
Aug 08, 2017 11:30 JST
Mitsubishi Corporation: Dhaka Mass Rapid Transit Company Ltd Orders for Supplying Rolling Stock and Maintenance Depot Equipment for the First MRT System in Bangladesh, Dhaka MRT Line-6
Aug 07, 2017 12:13 JST
Showa Denko Acquires Assets Concerning SiC for Power Devices from Nippon Steel & Sumitomo Metal Group
Aug 07, 2017 12:00 JST
NEC, SMUD and SpaceTime Partner to Deliver Innovative Solutions for Electric Power Companies
Aug 07, 2017 11:49 JST
Toyota and Mazda Enter Business and Capital Alliance
Aug 04, 2017 18:13 JST
More Latest Release >>
Winson Announces FY2016 Annual Results
June 07 2017 23:50 JST
More Press release >>