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Public company info - Vicon Holdings Limited , 03878.HK
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Vicon Holdings Limited, 03878.HK - Company Profile
Chairman CHOW Kwok Chun
Share Issued (share) 400,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Construction & Decoration
Corporate Profile Business Summary: The Group provides foundation works and ancillary services and general building works in Hong Kong and Macau. Performance for the year: Revenue was approximately HK$468.2 million (2019: HK$370.4 million) Gross profit was approximately HK$49.1 million (2019: HK$50.1 million) Profit for the year attributable to equity holders of the Company was approximately HK$23.7 million (2019: HK$29.2 million) Basic and diluted earnings per share was approximately HK5.93 cents per share (2019: HK7.29 cents per share) Business Review Revenue contributed from projects which the Group was acting as main contractor has increased from approximately 72% of the Group's total revenue in FY2019 to approximately 98% of the Group's total revenue in FY2020. The amount of backlog revenue as at 31 March 2020 was approximately HK$280.1 million (31 March 2019: HK$374.0 million). Foundation Works and Ancillary Services Foundation works mainly include mini-piling, percussive piling, rock socketed in steel H-pile and bored pile, together with pile cap. Ancillary services mainly include site formation and demolition works which covers clearance of the site, excavation, demolition of a building or any substantial part of a building. During FY2020, there were 13 projects (FY2019: 20 projects) contributing revenue of approximately HK$468.2 million (FY2019: HK$343.4 million) to the Group. Despite the number of projects contributing revenue to the Group in FY2020 was lower than that in FY2019, revenue was higher due to a number of sizable projects which were in the mature stages of construction, which contributed a large portion of their contract values to the revenue in FY2020. General Buildings Works General building works mainly include structural alteration and addition works, development of superstructures such as entire dwelling, office buildings, stores, public utility buildings, farm buildings, etc. For FY2020, there was nil (FY2019: one) general building works project contributing revenue (FY2019: HK$27.0 million) to this business segment. Prospects: The shares of the Company were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 22 December 2017 (the “Listing”). The Listing improved the Company’s reputation and provided additional capital to the Group to explore business opportunities. The construction market in Hong Kong remained under pressure and continued to be weak and highly competitive in FY2020 with a reduction in the number of foundation contracts in both the public and private sectors. the Group's business has been primarily focused in the Hong Kong private sector but the reduction of foundation contracts has led to enhanced competition in the industry, affecting the Group's tender prices and therefore reduced the award prices of the projects. With the outbreak of COVID-19 (the “Epidemic”), the spread of the disease has created a challenging operating environment worldwide. In view of the uncertainty brought by the Epidemic to the macroeconomic environment, the Group will continue to monitor the evolving situation, including Government guidance and measures initiated, in order to enable the Group to position itself well in the market. The Group will continue to focus on “design and build” projects and maintaining a strong financial position to meet the requirements of future potential projects. The Group is in the process of multiple tender submissions for foundation projects. The Group will continue to submit tender for targeted and profitable projects in order to strive for a stable revenue growth.

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