China Travel Service Hong Kong (00308) announced its 2023 results, with consolidated revenue of HK$4.494 billion, an increase of 4 over the previous year...
According to the Zhitong Finance App, Hong Kong China Travel Service (00308) announced its 2023 results, with consolidated revenue of HK$4.494 billion, an increase of 48% over the previous year. Profit attributable to shareholders was HK$240 million, and loss attributable to shareholders was HK$356 million in the previous year. Basic earnings per share were HK4.33 cents, and the final dividend was HK1 cents per share.
According to the announcement, the loss was mainly due to the significant improvement in the Group's operating performance due to the relaxation of travel control and social distancing measures related to the COVID-19 pandemic and the effective implementation of the company's strategy. Excluding the impact of the Group's calculation of land value-added tax on real estate projects, the profit attributable to shareholders was HK$436 million.
The Group's financial situation is still stable and good, and it has certain investment and financing capabilities. As of December 31, 2023, total assets were HK$25.014 billion, up 5% from the end of the previous year; shareholders' equity was HK$16.354 billion, up 1% from the previous year; the total amount of cash and bank balances, secured time deposits and restricted cash was HK$2,724 million, a decrease of 3% from the previous year. After deducting loans from holding companies, loans from a similar subsidiary, bank loans and other loans of HK$1,950 million, net cash was HK$774 million, a decrease of 57% from the previous year.