Summary by Futu AI
STELUX announced its performance for the fiscal year ended March 31, 2024. Revenue decreased by 4.7% compared to the previous fiscal year to HKD 767,561,000. The company recorded a net profit of HKD 473,325,000 during the year, a significant increase from HKD 511,050,000 in the same period last year, and earnings per share increased from 4.85 HK cents to 45.21 HK cents. The income statement shows that pre-tax profit was HKD 481,706,000, up from HKD 59,571,000 in the same period last year. The total assets increased from HKD 10,631,230,000 in the previous year to HKD 14,286,250,000. Shareholders' funds increased from HKD 4,240,520,000 to HKD 9,065,800,000 and the loan-to-deposit ratio decreased from 60.7% to 18.3%. The company did not declare a dividend. During the reporting period, STELUX sold a wholly owned subsidiary for a total consideration of approximately HKD 535,103,000 on February 29, 2024. In addition, the company continued to invest and develop its e-commerce business, as well as implement inventory control and prudent procurement measures. The board of directors does not recommend declaring a year-end dividend for the fiscal year ending March 31, 2024.
