K W Nelson Announces 2017 Annual Results
January 23 2018 - 8:12AM
JCN Newswire (English)
Revenue Increases 49.1% to HK$89.3 Million;
Net Profit Up by 455.3% to HK$26.1 Million;
Recommends a Final Dividend of HK0.2 Cent per Share
HONG KONG, Jan 23, 2018 - (ACN Newswire) - K W Nelson Interior
Design and Contracting Group Limited ("K W Nelson" or the "Group";
Stock Code: 8411), a Hong Kong-based interior decorator focusing on
commercial premises including office and retail space, has today
announced its annual results for the year ended 31 December 2017
("FY2017").
During the year under review, the Group's revenue solidly increased
by 49.1% to approximately HK$89.3 million (FY2016: HK$59.9
million). Gross profit rose by 49.2% to approximately HK$38.8
million (FY2016: HK$26.0 million), with gross profit margin at
about 43.5%.
The Group's profit attributable to shareholders increased by 455.3%
to approximately HK$26.1 million in FY2017 (FY2016: HK$4.7
million). Excluding the non-recurring listing expenses of
approximately HK$12.8 million incurred during the year ended 31
December 2016, the Group's profit would have risen by 49.1% to
approximately HK$26.1 million for FY2017 (FY2016: HK$17.5
million).
The Group maintains a strong financial position with cash and cash
equivalents of approximately HK$71.3 million as at the end of
FY2017 (FY2016: HK$44.2 million). The gearing ratio is zero. The
Board has recommended payment of a final dividend of HK 0.2 cent
per share for the year ended 31 December 2017.
Business Review
The Group provides services including provision of interior design
proposals by in-house designers, engaging subcontractors to carry
out fitting-out works and coordinating, managing and supervising
the fitting-out works by its in-house project managers. The
projects can be broadly categorised into (i) design &
decoration projects in which the Group is responsible for the
tailor-made interior design proposals, project management and
fitting-out works; (ii) decoration projects in which we are
responsible for project management and fitting-out works; and (iii)
other interior design and fitting-out services.
During the reporting year, the Group has achieved impressive
increases in revenue and net profit mainly driven by the increase
in revenue from design & decoration projects for commercial
premises. Looking ahead, the Group is positive about the prospects
of the interior design and decoration market and will continue to
focus on its core business. In order to maximise the long-term
returns to shareholders, the Group intends to devote more resources
towards the development of its interior design and decoration
business for commercial premises.
Mr. Nelson Lau, Chairman, Chief Executive Director and Executive
Director of K W Nelson said, "Since the Group's debut on The Stock
Exchange of Hong Kong in December 2016, we have become stronger and
better equipped to drive business growth and attain another level
of corporate development as the economy and market have thrived.
Moving forward, we are enthusiastic about the prospects of the
interior design and decoration market and we will continue to build
on the strong foundation of our portfolio. We will also enhance our
responsiveness to trends in the market, which is essential for
strengthening our position in our current markets and aiding
business expansion, so as to grow our profit and maximise returns
to shareholders."
About K W Nelson Interior Design and Contracting Group Limited
(Stock Code: 8411)
K W Nelson is a Hong Kong-based interior decorator focusing on
commercial premises including office and retail space. The Group
provides interior design proposals which are developed by its
in-house designers and engages subcontractors to carry out
fitting-out works which its project managers then coordinate,
manage and supervise. The Group has a wide range of clients
including multinational companies in Hong Kong, from various
industries such as banking, retail, healthcare, legal services,
catering, education, energy, insurance, telecommunications,
property management and logistics management.
For more details about K W Nelson, please visit the Group's
website: http://www.kwnelson.com.hk
For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Angela Ng Tel: (852) 2864 4855 Email: angela.ng@sprg.com.hk
Tika Lum Tel: (852) 2864 4806 Email: tika.lum@sprg.com.hk
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