Asian Spectator

ACN Newswire Business

Winson Announces 2017-18 Third Quarter Results

  • Written by ACN Newswire
Winson Announces 2017-18 Third Quarter Results
HONG KONG, Feb 7, 2018 - (ACN Newswire) - Winson Holdings Hong Kong Limited ("Winson" or the "Group"; stock code: 8421), a Hong Kong-based service provider specialising in environmental hygiene and related services and airline catering support services, has announced its unaudited quarterly results for the nine months ended 31 December 2017 ("Period under Review").

The Group's two principal businesses, consisting of environmental hygiene and related services and airline catering support services, performed stably for the nine months ended 31 December 2017. The operations contributed combined revenue of approximately HK$128.9 million for the three months ended 31 December 2017 and approximately HK$377.1 million for the Period under Review, grew by approximately 9.6% and approximately 8.5% respectively when compared to the corresponding period in last year. Gross profit amounted to approximately HK$19.2 million for the three months ended 31 December 2017and approximately HK$56.6 million for the Period under Review, representing year-on-year increases of approximately 13.6% and approximately 11.1% respectively from the corresponding period of 2016. Furthermore, profit for the Period under Review surged by approximately 37.3% to approximately HK$17.4 million and up by approximately 1.5% to approximately HK$5.7 million during the third quarter of 2017 when compared to the corresponding period in last year. The Group had cash and cash equivalents of approximately HK$57.0 million as at 31 December 2017.

Business Review

Environmental Hygiene and Related ServicesEnvironmental hygiene and related services have traditionally been a major source of revenue for the Group. This has continued for the third quarter of 2017 and the Period under Review, with the business generating revenue of approximately HK$118.7 million and approximately HK$346.7 million respectively, representing corresponding year-on-year increases of approximately 9.0% and approximately 7.8% million respectively. Gross profit has likewise achieved a favourable upswing, amounting to approximately HK$18.0 million for the third quarter of 2017 and approximately HK$53.2 million for the Period under Review, grew by approximately 15.4% and approximately 13.0% respectively when compared to the corresponding period of 2016.

As at 31 December 2017, the estimated total value of environmental hygiene services contracts held by the Group amounted to approximately HK$925.4 million, of which approximately HK$668.0 million was ongoing contracts, approximately HK$572.8 million being contracts won during the Period under Review, and approximately HK$403.0 million secured during the third quarter of 2017. The growth momentum was driven in part by the awarding of a new contract from a major railway operator which covers cleaning services for its tracks, tunnels and plant rooms found along all of its railway lines and some high level cleaning services in areas 3 meters and above.

Airline Catering Support ServicesThough the airline catering support services business provides a supplementary source of revenue for the Group, it has nonetheless become an inseparable part of the Group's make up. For the third quarter of 2017 and the Period under Review, the business generated revenue of approximately HK$10.2 million and approximately HK$30.4 million respectively, or corresponding year-on-year increases of approximately 17.3% and approximately 17.2%. In respect of gross profit, approximately HK$1.2 million and approximately HK$3.4 million were recorded for the third quarter of 2017 and the Period under Review respectively.

Prospects

With the ushering of the New Year, the Group expects 2018 to be a period of modest growth as many major contracts for environmental hygiene and related services have either been renewed or awarded to industry players including the Group. As for airline catering support services, demand is expected to be on a growth trend due to well performed tourist industry.

Despite the abovementioned marketprognoses, the management considers the coming year to be an ideal opportunity for the Group to strengthen its capabilities and fortify its position in the respective markets. Towards these objectives, it will continue to examine ways to optimise operations, including the introduction of automation where feasible for allowing it to lessen its labour dependence, particularly given the ongoing labour shortage which has driven associated costs upwards. That being said, the management also recognises that certain services are dependent on the expertise of its workforce, hence training will continue to not only maintain the professionalism of staff, but also to bolster their capabilities.

Madam Ng Sing Mui, Chairperson and Executive Director of Winson, said, "The management will closely examine all avenues where the Group's expertise in environmental hygiene and related services and airline catering support services can be introduced. It will also look to extend business relations with clients by leveraging the experience gained from past projects. By taking a proactive approach, the management trusts that the Group will be able to maintain its competitiveness and growth irrespective of market conditions."

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 LimitedVicky Lee Tel: (852) 2864 4834 Email: [email protected]Isabel Kwok Tel: (852) 2864 4824 Email: [email protected]Jacky Chiu Tel: (852) 2114 4313 Email: [email protected]Website: www.sprg.com.hk[1][2][3][4]

Topic: Press release summarySectors: Daily Finance, Daily News[5][6] http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

  1. ^ [email protected] (www.acnnewswire.com)
  2. ^ [email protected] (www.acnnewswire.com)
  3. ^ [email protected] (www.acnnewswire.com)
  4. ^ www.sprg.com.hk (www.sprg.com.hk)
  5. ^ Daily Finance (www.acnnewswire.com)
  6. ^ Daily News (www.acnnewswire.com)

Authors: ACN Newswire

Read more http://www.acnnewswire.com/press-release/english/41347/

Ontario Teachers' to invest in global disruptive technology th...

TORONTO, April 24, 2019 /PRNewswire-AsiaNet/ -- -- Olivia Steedman to lead new departmentOntario Teachers' Pension Plan (Ontario Teachers') is pleased to announce it is launching a new inves...

Arasan Announces its Total eMMC IP Solution on TSMC 7nm Proces...

SAN JOSE, California, April 24, 2019 /PRNewswire-AsiaNet/ -- -- Arasan Chip Systems, a leading provider of semiconductor IP for mobile and automobile SoCs, today announced the immediate avai...

The Royal Canadian Mint marks 50 years of progress in the jour...

TORONTO, Apr. 24, 2019 /PRNewswire-AsiaNet/-- While Canadians' are known for their strongly held values of diversity, inclusion and equality, for many years, LGBTQ2 Canadians were not treate...

Aeroflot Named China's Favourite International Airline for the...

MOSCOW, April 23, 2019 /PRNewswire-AsiaNet/ -- Aeroflot has been once again recognised as the Favourite International Airline in China. The prestigious award was given to Aeroflot for the th...

inCruises International expands its footprint by moving its he...

SAN JUAN, Puerto Rico, April 23, 2019 /PRNewswire-AsiaNet/ -- inCruises International, the world's largest cruise membership club, announced its expansion into Puerto Rico today."We are extr...

Spider-Man(TM): Far From Home And Doritos(R) Team-Up For A Glo...

PURCHASE, New York, Apr. 23, 2019 /PRNewswire-AsiaNet/-- - FANS IN MORE THAN 35 MARKETS AROUND THE WORLD CAN EMBRACE THEIR INNER SUPERHERO WITH THE HELP OF DORITOS AND SPIDER-MANDoritos(R)...

Sasol Reaches Beneficial Operation of New Alkoxylation Product...

NANJING, China, April 23, 2019 /PRNewswire-AsiaNet/ -- Sasol Limited (JSE: SOL) (NYSE: SSL), a leading integrated chemicals and energy company, reached beneficial operation of its new alkoxy...

New Supermicro Scale-Up In-Memory Computing Platforms Now Ship...

SAN JOSE, California, April 23, 2019 /PRNewswire-AsiaNet/ -- -- 4-socket servers supporting 2nd Gen Intel(R) Xeon(R) Scalable processors and Intel(R) Optane(TM) DC persistent memory are Gain...

F4F Heroes: 14-year-old BRICS Good Will Ambassador to Particip...

MOSCOW, April 23, 2019 /PRNewswire-AsiaNet/ -- Ananya Kamboj will participate for the third time in the International Children's Social Programme Football for Friendship. The programme is ru...

Kaneka Americas Holding, Inc. announces the creation of a new ...

HOUSTON, April 23, 2019 /PRNewswire-AsiaNet/ -- Kaneka Americas Holding, Inc. is proud to announce the creation of the new Biopolymers Division based in Houston. Kaneka's PHBH is a plant-bas...

MXP invests seventh factory, applying new automated technology...

HANOI, Vietnam, April 23, 2019 /PRNewswire-AsiaNet/ -- MXP JSC (Manufacturing Sportswear Joint Stock Company), one of Vietnam's leading apparel manufacturing and exporting companies, has lau...

Agile Alliance Announces AGILE2019 Program

PORTLAND, Oregon, April 23, 2019 /PRNewswire-AsiaNet/ -- --Global Agile Conference in Washington, D.C. is the Industry's Premier Event Today Agile Alliance ( https://c212.net/c/link/?t=0&...

Gracell Bio Announces FasT CAR-T, a Breakthrough Technology fo...

SHANGHAI and SUZHOU, China, April 23, 2019 /PRNewswire-AsiaNet/ -- -Gracell conquers effective, low cost, and high speed manufacturing of cellular gene therapeuticsGracell Biotechnologies, C...

Arcelik Aims to Raise Awareness on Climate Change Risks Throug...

ISTANBUL, Apr. 23, 2019 /PRNewswire-AsiaNet/-- Arcelik takes another key initiative to tackle global warming in line with its 'Respecting the World, Respected Worldwide' vision. CEO Hakan Bu...

APR's Annual Advertising Production Trends Highlight The Need ...

DENVER, April 23, 2019 /PRNewswire-AsiaNet/ -- -- The Onslaught of Content Produced Will Require an Entrepreneurial Approach for Marketers Advertising Production Resources [APR] has released...

The just concluded second season of Top Japan highlights the G...

OSAKA, Japan, April 23, 2019/PRNewswire-AsiaNet/-- The success of the tour, a joint effort between Ezaki Glico and Top Japan, helped Pejoy accelerate conversion and monetization during Super...

HKTDC Hong Kong Houseware Fair and Home Textiles Fair draw close to 47,000 buyers

The four-day HKTDC Hong Kong Houseware Fair (Pictured) and HKTDC Hong Kong International Home Textiles and Furnishings Fair welcomed close to 47,000 buyers from 121 countries and regions.Th...

Health-tech AI Startup mfine Raises $17.2 Million in Series B;...

BANGALORE, India and TOKYO, April 23, 2019 /PRNewswire-AsiaNet/ -- - Investors: SBI Investment, SBI Ven Capital Pte. Ltd., Japan; BEENEXT, Singapore, Stellaris Venture Partners and Prime Ven...

Netcore Acquires Quinto.ai, an AI Chatbot Start-up in an all I...

MUMBAI, India April 23, 2019 /PRNewswire-AsiaNet/ - Netcore Solutions, a Global Marketing technology company, has acquired Quinto.ai [https://quinto.ai/index.html ], an AI chatbot start-up. ...