On August 22, the announcement from Powercom (Group) (00387.HK) stated that the group's income in the first half of 2024 was HKD 255,249,000, a decrease of 37.7% compared to the same period last year. The gross margin was 26.3%, significantly higher than the 16.6% in the same period last year. The contrasting trend of the year-on-year income change and the gross margin change is due to a large part of the new business being converted to commission income, with only net income recognized as revenue.
In the first half of 2024, the company's attributable net profit was HKD 8,430,000, an increase of 53.4% compared to the same period last year when the company's attributable net profit was HKD 5,496,000. The board of directors decided to declare an interim dividend of 3 Hong Kong cents per share (2023: 1 Hong Kong cent).
