Friday, March 29, 2024
 
Columnist
Martin Hennecke
 
FE HOTELS
HKEx Stock Code : 00037 
 
Corporate Profile
The principal activites are: 1. Hotel operation in Hong Kong 2. Hotel operation and property letting in the People's Republic of China, excluding Hong Kong (ˇ§PRCˇ¨) 3. Property investment in Hong Kong and 4. Securities investment and trading.

Business Review - For the year ended March 31, 2013

The overall turnover of the Group has decreased by approximately 13% as compared with the last corresponding period. Of which, the turnover of the Cheung Chau Warwick Hotel has increased by approximately 6% as compared with the last corresponding period and contributed a segment profit of approximately HK$5.4 million while the turnover of Beijing Warwick, which comprises suite hotel and office premises leasing, has decreased by approximately 35% as compared with last corresponding period and sustained a segment loss of approximately HK$4.5 million.

The Cheung Chau Warwick Hotel has recorded an increase in the revenues from the rooms department and the food & beverage department by approximately 7% and 5% respectively. The hotel will keep on gaining more publicity and expanding its market share through media channels or social media platforms. The management has been considering the possibility of providing more products and services in order to create more income stream for the coming year.

The decrease in the revenue of Beijing Warwick is mainly due to the closure of approximately one-fifth of its gross floor area for renovation. The renovation has been completed. The sales and marketing team of Beijing Warwick will continue putting strong effort on office premises leasing to cope with the increasing market demand for office premises in Beijing.

At the end of the reporting period, there was an increase of approximately HK$18.5 million in fair value of investment properties.

The Group has recorded a profit of approximately HK$1.9 million from securities investment and trading.

Business Outlook - For the year ended March 31, 2013

The Group will from time to time seek the business opportunities that can provide investment potential and broaden the income base of the Group.

Source: Far East Hotels (00037) Annual Results Announcement
Chairman Deacon Te Ken Chiu Issued Capital (shares) 489M
Par Value HKD 0.1 Market Capitalisation (HKD) 98M
 
Login
Password
Register  Forget Password
Advanced Search
© 2024 The Standard, The Standard Newspapers Publishing Ltd.
Home | Business | Metro | Focus | Opinion | Markets | World | Sports | Entertainment | Monday Money | Property | Macau | Weekend