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.
Mitsubishi Motors Implement First 'Vehicle to Grid' Pilot on Dutch Market with Mitsubishi Outlander PHEV
Oct 19, 2017 17:18 JST
LEXUS Launches All-new 'LS'
Oct 19, 2017 13:27 JST
Statement Regarding Impact of Kobe Steel Quality Issue on Toyota and Lexus Vehicles
Oct 19, 2017 12:50 JST
Fujitsu Launches Consulting Service to Meet Security Standard for Nonfederal US Organizations and IT Systems
Oct 19, 2017 10:52 JST
Hitachi Social Innovation Forum held in Milan to Accelerate Collaborative Creation, Targeting the Expansion of the Social Innovation Business in Italy
Oct 19, 2017 10:35 JST
Mitsubishi Motors Launches 'DRIVE FOR GROWTH' Plan to Increase Volumes, Revenues and Profitability
Oct 18, 2017 20:06 JST
Toyota Unveils FC Bus Concept "Sora"
Oct 18, 2017 15:12 JST
Toyota Launches "Fine-Comfort Ride" Concept Vehicle
Oct 18, 2017 14:58 JST
DENSO and FotoNation to Collaborate on Image Recognition Technology
Oct 18, 2017 12:24 JST
DENSO to Exhibit Newest Mobility Technologies, Virtual Reality Experiences at 45th Tokyo Motor Show
Oct 18, 2017 12:06 JST
Hitachi Launches the Systems to Automatically Generate Optimized Production Schedules and 3D Work Instructions as a Solution Core for the IoT Platform "Lumada"
Oct 18, 2017 09:48 JST
"MSS Forum" Launched to Promote the Establishment of a De Facto Standard for Olfactory IoT Sensing Systems
Oct 17, 2017 14:08 JST
Mazda Starts Production of the CX-5 at Hofu Plant
Oct 17, 2017 13:51 JST
Toyota Launches "Start Your Impossible" Global Corporate Initiative
Oct 17, 2017 09:19 JST
Toyota Defines Future of Mobility with Concept Car "TOYOTA Concept-i" Series Debuting at Tokyo Motor Show 2017
Oct 16, 2017 14:25 JST
Fujitsu Begins Sales of SAP S/4HANA Environment Provision Service, Accelerates Migration to Next-Generation ERP
Oct 16, 2017 14:09 JST
Home One-Two for Toyota GAZOO Racing
Oct 16, 2017 10:02 JST
NEC Participates in Global Wireless Summit 2017
Oct 13, 2017 16:26 JST
MHPS CEO Opens New Repair Facility and Announces Plans to Manufacture the World's Most Efficient and Reliable Gas Turbine in the Kingdom
Oct 13, 2017 15:48 JST
GAC Mitsubishi Motors Celebrates Five-year Anniversary
Oct 13, 2017 11:27 JST
More Latest Release >>
Winson Announces FY2016 Annual Results
June 07 2017 23:50 JST
More Press release >>