According to the Zhitong Finance App, Hong Kong Ferry (Group) (00050) announced its interim results for the six months ended June 30, 2023. The group achieved revenue of HK$171 million, an increase of 23.26% over the previous year; profit attributable to equity shareholders of the company was HK$9.927 million, an increase of 38.35% over the previous year; profit of HK$0.25 per share, and plans to pay an interim dividend of HK$10 per share.
The US Federal Reserve raised interest rates continuously during the period to suppress inflation, and interest rates rose to a record high in nearly 22 years. As far as the impact is concerned, interest rates in the Hong Kong interest rate for 1 to 12 months have also returned to over 5% in recent months, increasing the cost of doing business in all walks of life. Fortunately, customs clearance between Hong Kong and the Mainland resumed at the beginning of the year, and the number of flights with countries around the world gradually increased, leading to a gradual increase in the tourism and retail industry. The estimated total sales value of Hong Kong's retail industry increased by 20.7% year-on-year in the first half of the year. The Group's stores and shopping malls also began to benefit. The Group's profits during the review period mainly came from rental income from such properties.