Hong Kong Ferry Holdings' (HKF) underlying profit for the six months ended June 30, 2025 was HK$69 million (US$8.8 million), representing a decrease of approximately 19 per cent from the same period last year.
Taking into account the fair value change of the investment properties, the group’s profit attributable to shareholders for H1 2025 was HK$122 million (US$15.6 million), representing an increase of approximately 36 per cent from the same period last year.
Earnings per share was HK$0.34 (US$0.04) as compared with HK$0.25 (US$0.03) over the corresponding period of last year.
During the period under review, the group’s operating profit was mainly derived from the rental income from shops and commercial arcades, interest income from banks as well as appreciation in value of rental properties after revaluation. The group had no borrowings.
HKF's ferry, shipyard and related operations segment recorded a deficit of HK$12.5 million (US$1.6 million), an increase of HK$9.5 million (US$1.2 million) as compared to the deficit in the same period last year. The main reason for the increase in deficit is the decline in revenue from the Harbour Cruise Bauhinia business caused by the replacement of a damaged engine in one vessel during the first half of the year.
The group has successfully obtained approval from the Transport Department for a fare increase on the ‘‘North Point-Kwun Tong’’ dangerous goods vehicular ferry service. The new fares took effect on April 12, 2025, and the deficit is expected to be reduced in the second half of the year.
During the six months ended June 30, 2025, HKF's revenue amounted to HK$199 million (US$25.5 million), representing a decrease of per cent as compared with the same period last year. This was mainly attributable to the decrease in income from the ferry, shipyard and related operations segment.
The consolidated net profit after taxation of the group for the six months ended June 30, 2025 was HK$121 million (US$15.5 million), representing an increase of 39 per cent as compared with the same period in 2024.