Azeus BBW
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Financials
Annual Report 2026
Explore the statements
9 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Profit or loss | |||
| RevenueHK$'000 | 466,750 | 474,796 | PDF p. 81 |
| Cost of revenueHK$'000 | (111,085) | (110,949) | PDF p. 81 |
| Gross profitHK$'000 | 355,665 | 363,847 | PDF p. 81 |
| Other incomeHK$'000 | 2,840 | 3,605 | PDF p. 81 |
| Other losses - netHK$'000 | (558) | (5,951) | PDF p. 81 |
| Impairment losses of financial assetsHK$'000 | (5,326) | (2,874) | PDF p. 81 |
| Expenses | |||
| - Research and developmentHK$'000 | (47,081) | (39,659) | PDF p. 81 |
| - Selling and marketingHK$'000 | (87,224) | (68,035) | PDF p. 81 |
| - AdministrativeHK$'000 | (65,400) | (55,219) | PDF p. 81 |
| - Finance cost – lease interestHK$'000 | (1,051) | (1,012) | PDF p. 81 |
| Profit or loss | |||
| Profit before taxHK$'000 | 151,865 | 194,702 | PDF p. 81 |
| Tax expensesHK$'000 | (17,157) | (27,753) | PDF p. 81 |
| Total profitHK$'000 | 134,708 | 166,949 | PDF p. 81 |
| Other comprehensive income | |||
| Currency translation gains arising from consolidationHK$'000 | 4,094 | 5,754 | PDF p. 81 |
| Actuarial gains/(losses) on defined retirement benefitsHK$'000 | 936 | (3,795) | PDF p. 81 |
| Tax (expense)/credit on actuarial lossesHK$'000 | (238) | 953 | PDF p. 81 |
| SubtotalHK$'000 | 698 | (2,842) | PDF p. 81 |
| Other comprehensive income, net of taxHK$'000 | 4,792 | 2,912 | PDF p. 81 |
| Total comprehensive incomeHK$'000 | 139,500 | 169,861 | PDF p. 81 |
| Profit attributable to | |||
| Equity holders of the CompanyHK$'000 | 134,708 | 166,949 | PDF p. 81 |
| Total comprehensive income attributable to | |||
| Equity holders of the CompanyHK$'000 | 139,500 | 169,861 | PDF p. 81 |
| Earnings per share (HK$ per share) | |||
| - BasicHK$ per share | 4.49 | 5.56 | PDF p. 81 |
| - DilutedHK$ per share | 4.49 | 5.56 | PDF p. 81 |
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Definitions & sources
Original report: PDF p. 81 ↗
The accompanying notes form an integral part of these financial statements.
No separate Company-level income statement is presented on this page.
Balance Sheets - Group & Company
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, 31 March 2026 | 2025Group, 31 March 2025 | 2026Company, 31 March 2026 | 2025Company, 31 March 2025 | Source |
|---|---|---|---|---|---|
| Current assets | |||||
| Cash and bank depositsHK$'000 | 249,880 | 270,299 | 1,120 | 972 | PDF p. 82 |
| Trade and other receivablesHK$'000 | 106,669 | 87,275 | 196,640 | 188,499 | PDF p. 82 |
| InventoriesHK$'000 | – | 134 | – | – | PDF p. 82 |
| Contract assetsHK$'000 | 53,513 | 40,577 | – | – | PDF p. 82 |
| Current income tax assetsHK$'000 | 7,944 | 509 | – | – | PDF p. 82 |
| SubtotalHK$'000 | 418,006 | 398,794 | 197,760 | 189,471 | PDF p. 82 |
| Non-current assets | |||||
| Investments in subsidiariesHK$'000 | – | – | 51,088 | 53,802 | PDF p. 82 |
| Property, plant and equipmentHK$'000 | 7,850 | 8,501 | – | – | PDF p. 82 |
| Right-of-use assetsHK$'000 | 19,869 | 25,042 | – | – | PDF p. 82 |
| Deferred income tax assetsHK$'000 | 4,151 | 4,177 | – | – | PDF p. 82 |
| Refundable depositsHK$'000 | 4,893 | 4,973 | – | – | PDF p. 82 |
| SubtotalHK$'000 | 36,763 | 42,693 | 51,088 | 53,802 | PDF p. 82 |
| Assets | |||||
| Total assetsHK$'000 | 454,769 | 441,487 | 248,848 | 243,273 | PDF p. 82 |
| Current liabilities | |||||
| Trade and other payablesHK$'000 | 63,942 | 30,365 | 37,614 | 3,247 | PDF p. 82 |
| Contract liabilitiesHK$'000 | 145,192 | 116,355 | – | – | PDF p. 82 |
| Lease liabilitiesHK$'000 | 4,755 | 5,598 | – | – | PDF p. 82 |
| Current income tax liabilitiesHK$'000 | 3,047 | 20,300 | – | – | PDF p. 82 |
| SubtotalHK$'000 | 216,936 | 172,618 | 37,614 | 3,247 | PDF p. 82 |
| Non-current liabilities | |||||
| Contract liabilitiesHK$'000 | 4,246 | 4,599 | – | – | PDF p. 82 |
| Lease liabilitiesHK$'000 | 15,870 | 19,365 | – | – | PDF p. 82 |
| Other non-current liabilitiesHK$'000 | 2,459 | 3,792 | – | – | PDF p. 82 |
| Deferred income tax liabilitiesHK$'000 | 188 | 188 | – | – | PDF p. 82 |
| Provision for defined retirement benefitsHK$'000 | 16,505 | 16,860 | – | – | PDF p. 82 |
| SubtotalHK$'000 | 39,268 | 44,804 | – | – | PDF p. 82 |
| Liabilities | |||||
| Total liabilitiesHK$'000 | 256,204 | 217,422 | 37,614 | 3,247 | PDF p. 82 |
| Net assets | |||||
| NET ASSETSHK$'000 | 198,565 | 224,065 | 211,234 | 240,026 | PDF p. 82 |
| Equity | |||||
| Share capitalHK$'000 | 46,800 | 46,800 | 46,800 | 46,800 | PDF p. 82 |
| Share premiumHK$'000 | 56,489 | 56,489 | 56,726 | 56,726 | PDF p. 82 |
| Foreign currency translation reserveHK$'000 | 8,059 | 3,965 | – | – | PDF p. 82 |
| Other reservesHK$'000 | 1,798 | 1,798 | – | – | PDF p. 82 |
| Defined retirement benefitsHK$'000 | (8,407) | (9,105) | – | – | PDF p. 82 |
| Retained profitsHK$'000 | 93,826 | 124,118 | 107,708 | 136,500 | PDF p. 82 |
| Total equityHK$'000 | 198,565 | 224,065 | 211,234 | 240,026 | PDF p. 82 |
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Definitions & sources
Original report: PDF p. 82 ↗
The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Profit | |||
| Total profitHK$'000 | 134,708 | 166,949 | PDF p. 81 |
| Items that may be reclassified | |||
| Currency translation gains arising from consolidationHK$'000 | 4,094 | 5,754 | PDF p. 81 |
| Items not reclassified | |||
| Actuarial gains/(losses) on defined retirement benefitsHK$'000 | 936 | (3,795) | PDF p. 81 |
| Tax (expense)/credit on actuarial lossesHK$'000 | (238) | 953 | PDF p. 81 |
| Other comprehensive income | |||
| Other comprehensive income, net of taxHK$'000 | 4,792 | 2,912 | PDF p. 81 |
| Total comprehensive income | |||
| Total comprehensive incomeHK$'000 | 139,500 | 169,861 | PDF p. 81 |
| Total comprehensive income attributable to | |||
| Equity holders of the CompanyHK$'000 | 139,500 | 169,861 | PDF p. 81 |
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Definitions & sources
Original report: PDF p. 81 ↗
Profit attributable to equity holders of the Company: 134,708 (2026), 166,949 (2025). No non-controlling interests.
Consolidated Statement of Changes in Equity (Group) - 2026
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Share capital | 2026Share premium | 2026Foreign currency translation reserve | 2026Other reserves | 2026Defined retirement benefits | 2026Retained profits | 2026Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | ||||||||
| Beginning of financial yearHK$'000 | 46,800 | 56,489 | 3,965 | 1,798 | (9,105) | 124,118 | 224,065 | PDF p. 83 |
| Profit for the yearHK$'000 | – | – | – | – | – | 134,708 | 134,708 | PDF p. 83 |
| Other comprehensive income for the yearHK$'000 | – | – | 4,094 | – | 698 | – | 4,792 | PDF p. 83 |
| Total comprehensive income for the yearHK$'000 | – | – | 4,094 | – | 698 | 134,708 | 139,500 | PDF p. 83 |
| FY2025 final dividends paidHK$'000 | – | – | – | – | – | (117,000) | (117,000) | PDF p. 83 |
| FY2026 interim dividends paidHK$'000 | – | – | – | – | – | (48,000) | (48,000) | PDF p. 83 |
| End of financial yearHK$'000 | 46,800 | 56,489 | 8,059 | 1,798 | (8,407) | 93,826 | 198,565 | PDF p. 83 |
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Definitions & sources
Original report: PDF p. 83 ↗
All attributable to equity holders of the Company; no NCI column.
Consolidated Statement of Changes in Equity (Group) - 2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Share capital | 2025Share premium | 2025Foreign currency translation reserve | 2025Other reserves | 2025Defined retirement benefits | 2025Retained profits | 2025Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| 2025 | ||||||||
| Beginning of financial yearHK$'000 | 46,800 | 56,489 | (1,789) | 1,774 | (6,263) | 62,193 | 159,204 | PDF p. 83 |
| Profit for the yearHK$'000 | – | – | – | – | – | 166,949 | 166,949 | PDF p. 83 |
| Other comprehensive income/ (loss) for the yearHK$'000 | – | – | 5,754 | – | (2,842) | – | 2,912 | PDF p. 83 |
| Total comprehensive income/(loss) for the yearHK$'000 | – | – | 5,754 | – | (2,842) | 166,949 | 169,861 | PDF p. 83 |
| Transfer from retained profits to other reservesHK$'000 | – | – | – | 24 | – | (24) | – | PDF p. 83 |
| FY2024 final dividends paidHK$'000 | – | – | – | – | – | (57,000) | (57,000) | PDF p. 83 |
| FY2025 interim dividends paidHK$'000 | – | – | – | – | – | (48,000) | (48,000) | PDF p. 83 |
| End of financial yearHK$'000 | 46,800 | 56,489 | 3,965 | 1,798 | (9,105) | 124,118 | 224,065 | PDF p. 83 |
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Definitions & sources
Original report: PDF p. 83 ↗
All attributable to equity holders of the Company; no NCI column.
Consolidated Statement of Cash Flows (Group)
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Operating activities | |||
| Total profitHK$'000 | 134,708 | 166,949 | PDF p. 84 |
| Operating activities - adjustments | |||
| Tax expensesHK$'000 | 17,157 | 27,753 | PDF p. 84 |
| Depreciation of property, plant and equipmentHK$'000 | 3,105 | 1,190 | PDF p. 84 |
| Write-off of property, plant and equipmentHK$'000 | 2,070 | 61 | PDF p. 84 |
| Amortisation of right-of-use assetsHK$'000 | 6,618 | 6,130 | PDF p. 84 |
| Interest incomeHK$'000 | (2,619) | (3,323) | PDF p. 84 |
| Finance cost - lease interestHK$'000 | 1,051 | 1,012 | PDF p. 84 |
| Defined retirement benefits expenseHK$'000 | 3,048 | 2,350 | PDF p. 84 |
| Unrealised currency translation losses/(gains)HK$'000 | 222 | (552) | PDF p. 84 |
| Operating activities | |||
| Operating cash flows before changes in working capitalHK$'000 | 165,360 | 201,570 | PDF p. 84 |
| Change in working capital | |||
| Trade and other receivablesHK$'000 | (19,440) | (20,952) | PDF p. 84 |
| Contract assetsHK$'000 | (12,936) | (10,264) | PDF p. 84 |
| Refundable depositsHK$'000 | 80 | 169 | PDF p. 84 |
| InventoriesHK$'000 | 134 | 1,031 | PDF p. 84 |
| Trade and other payablesHK$'000 | (3,790) | 24,215 | PDF p. 84 |
| Provision for defined retirement benefitsHK$'000 | (2,468) | (1,372) | PDF p. 84 |
| Contract liabilitiesHK$'000 | 28,484 | 15,776 | PDF p. 84 |
| Operating activities | |||
| Cash generated from operationsHK$'000 | 155,424 | 210,173 | PDF p. 84 |
| Income tax paid, netHK$'000 | (41,867) | (12,266) | PDF p. 84 |
| Net cash provided by operating activitiesHK$'000 | 113,557 | 197,907 | PDF p. 84 |
| Investing activities | |||
| Additions to property, plant and equipmentHK$'000 | (4,762) | (3,526) | PDF p. 84 |
| Interest receivedHK$'000 | 2,664 | 3,323 | PDF p. 84 |
| Net cash used in investing activitiesHK$'000 | (2,098) | (203) | PDF p. 84 |
| Financing activities | |||
| (Increase)/decrease in restricted cashHK$'000 | (3,182) | 653 | PDF p. 84 |
| Dividends paid to equity holders of the CompanyHK$'000 | (129,160) | (105,000) | PDF p. 84 |
| Principal payment of lease liabilitiesHK$'000 | (5,759) | (5,233) | PDF p. 84 |
| Payment of interest on lease liabilitiesHK$'000 | (1,051) | (1,012) | PDF p. 84 |
| Net cash used in financing activitiesHK$'000 | (139,152) | (110,592) | PDF p. 84 |
| Net change | |||
| Net (decrease)/increase in cash and cash equivalentsHK$'000 | (27,693) | 87,112 | PDF p. 84 |
| Cash and cash equivalents | |||
| Beginning of financial yearHK$'000 | 230,216 | 142,642 | PDF p. 84 |
| Effects of currency translation on cash and cash equivalentsHK$'000 | 4,092 | 462 | PDF p. 84 |
| End of financial yearHK$'000 | 206,615 | 230,216 | PDF p. 84 |
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Definitions & sources
Original report: PDF p. 84 ↗
Significant non-cash transactions: As at 31 March 2026, HK$35,840,000 dividend declared remains payable to a director which was subsequently paid after year end.
Reconciliation of lease liabilities (p.85): 2026: 24,963 opening, (6,810) principal and interest payment, 1,474 additions, 1,051 interest expense, (53) FX, 20,625 closing; 2025: 25,044, (6,245), 5,112, 1,012, 40, 24,963.
Financial Highlights (five-year chart data)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026 | 2025Group, FY ended 31 March 2025 | 2024Group, FY ended 31 March 2024 | 2023Group, FY ended 31 March 2023 | 2022Group, FY ended 31 March 2022 | Source |
|---|---|---|---|---|---|---|
| Financial Highlights | ||||||
| RevenueHK$'000 | 466,750 | 474,796 | 328,940 | 252,908 | 217,658 | PDF p. 8 |
| Profit Before TaxHK$'000 | 151,865 | 194,702 | 91,598 | 53,886 | 49,015 | PDF p. 8 |
| Net ProfitHK$'000 | 134,708 | 166,949 | 84,993 | 50,540 | 48,450 | PDF p. 8 |
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Definitions & sources
Original report: PDF p. 8 ↗
FY: Financial Year Ended 31 March
Values are read from a bar chart whose data labels are printed per financial year.
Note 10 Earnings per share (Group)
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Net profit attributable to equity holders of the Company (HK$’000)HK$'000 | 134,708 | 166,949 | PDF p. 107 |
| Weighted average number of ordinary shares outstanding for basic earnings per share (‘000)'000 shares | 30,000 | 30,000 | PDF p. 107 |
| Basic earnings per share (HK dollars per share)HK dollars per share | 4.49 | 5.56 | PDF p. 107 |
| Diluted earnings per share (HK dollars per share)HK dollars per share | 4.49 | 5.56 | PDF p. 107 |
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Definitions & sources
Original report: PDF p. 107 ↗
Basic earnings per share is calculated by dividing the net profit attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the financial year.
Diluted earnings per share is the same as basic earnings per share as there are no dilutive potential ordinary shares as at 31 March 2026 and 31 March 2025.
Note 25 Dividends (Group)
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Ordinary dividends - interim dividend proposed in respect of the current financial year | |||
| HK$1.60 per ordinary share (2025: HK$1.60 per ordinary share)HK$'000 | 48,000 | 48,000 | PDF p. 125 |
| Ordinary dividends - final dividend paid in respect of the previous financial year | |||
| HK$3.90 per ordinary share (2025: HK$1.90 per ordinary share)HK$'000 | 117,000 | 57,000 | PDF p. 125 |
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Definitions & sources
Original report: PDF p. 125 ↗
Tax-exempt one-tier interim dividend proposed in respect of the current financial year; tax-exempt one-tier final dividend paid in respect of the previous financial year. Total 165,000 (2026) and 105,000 (2025).
At the Annual General Meeting on 29 July 2026, a final dividend of HK$2.80 per share amounting to a total of HK$84,000,000 will be recommended. These financial statements do not reflect this dividend.
Per-share amounts are in HK$ as printed in the row labels.
Where the money comes from
Segment information
By business
Segment revenue, expenses and results by business segment (Note 30) 13 lines
| Item / unit | 2026IT Services | 2025IT Services | 2026Azeus Products | 2025Azeus Products | 2026Total | 2025Total | Source |
|---|---|---|---|---|---|---|---|
| For the year ended 31 March | |||||||
| Segment revenueHK$'000 | 63,193 | 82,957 | 403,557 | 391,839 | 466,750 | 474,796 | PDF p. 138 |
| Segment expenses | |||||||
| Employee compensationHK$'000 | (28,254) | (39,719) | (135,381) | (108,429) | (163,635) | (148,148) | PDF p. 138 |
| Project direct service cost, sub-contracting and consultancy feeHK$'000 | (473) | (556) | (15,575) | (11,691) | (16,048) | (12,247) | PDF p. 138 |
| Cost of hosting servicesHK$'000 | (123) | (46) | (17,143) | (13,383) | (17,266) | (13,429) | PDF p. 138 |
| Impairment losses of financial assetsHK$'000 | – | (28) | (5,326) | (2,846) | (5,326) | (2,874) | PDF p. 138 |
| Marketing activities expensesHK$'000 | – | – | (19,254) | (15,725) | (19,254) | (15,725) | PDF p. 138 |
| Sales consultancy feeHK$'000 | – | – | (12,168) | (9,119) | (12,168) | (9,119) | PDF p. 138 |
| Sales commissionHK$'000 | – | – | (2,984) | (5,513) | (2,984) | (5,513) | PDF p. 138 |
| Third-party hardware and software support costHK$'000 | (5,113) | (6,520) | (610) | (532) | (5,723) | (7,052) | PDF p. 138 |
| Third-party research and development expenseHK$'000 | – | – | (4,348) | (2,698) | (4,348) | (2,698) | PDF p. 138 |
| Other direct costHK$'000 | (249) | (127) | (5,118) | (2,423) | (5,367) | (2,550) | PDF p. 138 |
| Total segment expenses (unlabelled subtotal)HK$'000 | (34,212) | (46,996) | (217,907) | (172,359) | (252,119) | (219,355) | PDF p. 138 |
| For the year ended 31 March | |||||||
| Segment resultsHK$'000 | 28,981 | 35,961 | 185,650 | 219,480 | 214,631 | 255,441 | PDF p. 138 |
Notes
Year ended 31 March; HK$'000. The Exco assesses performance based on gross profits less selling and marketing expenses and research and development expenses.
Reconciliation of segment results to profit for the year (Total, Note 30) 23 lines
| Item / unit | 2026Total | 2025Total | Source |
|---|---|---|---|
| Total | |||
| Segment resultsHK$'000 | 214,631 | 255,441 | PDF p. 139 |
| Unallocated income/(expenses) | |||
| Other income and interest incomeHK$'000 | 2,840 | 3,605 | PDF p. 139 |
| Administrative salariesHK$'000 | (21,736) | (18,874) | PDF p. 139 |
| Bank and transaction chargesHK$'000 | (967) | (980) | PDF p. 139 |
| Consultancy fee - administrativeHK$'000 | (1,211) | (1,716) | PDF p. 139 |
| Technical supplies and servicesHK$'000 | (922) | (1,142) | PDF p. 139 |
| Transportation and travellingHK$'000 | (2,220) | (1,700) | PDF p. 139 |
| Other losses - netHK$'000 | (558) | (5,951) | PDF p. 139 |
| Depreciation of property, plant and equipmentHK$'000 | (2,420) | (1,190) | PDF p. 139 |
| Amortisation of right-of-use assetsHK$'000 | (5,087) | (6,130) | PDF p. 139 |
| Defined retirement benefit expenseHK$'000 | (3,048) | (2,350) | PDF p. 139 |
| Directors’ remunerationHK$'000 | (3,522) | (4,361) | PDF p. 139 |
| Rental expenses on short-term leasesHK$'000 | (4,687) | (4,723) | PDF p. 139 |
| Legal and professional feesHK$'000 | (5,159) | (4,439) | PDF p. 139 |
| InsuranceHK$'000 | (2,108) | (1,444) | PDF p. 139 |
| UtilitiesHK$'000 | (1,615) | (1,508) | PDF p. 139 |
| Audit fee paid/payable to auditors of the GroupHK$'000 | (2,327) | (2,071) | PDF p. 139 |
| Recruitment and trainingHK$'000 | (746) | (731) | PDF p. 139 |
| Write-off of property, plant and equipmentHK$'000 | (447) | - | PDF p. 139 |
| Other unallocated expensesHK$'000 | (6,826) | (5,034) | PDF p. 139 |
| Total | |||
| Profit before taxHK$'000 | 151,865 | 194,702 | PDF p. 139 |
| Tax expenseHK$'000 | (17,157) | (27,753) | PDF p. 139 |
| Profit for the yearHK$'000 | 134,708 | 166,949 | PDF p. 139 |
Notes
HK$'000; year ended 31 March. Segment results by segment also shown on this page: IT Services 28,981 (2026)/35,961 (2025); Azeus Products 185,650/219,480; Total 214,631/255,441.
Segment assets and liabilities by business segment (Note 30) 2 lines
| Item / unit | 2026IT Services, 31 March | 2025IT Services, 31 March | 2026Azeus Products, 31 March | 2025Azeus Products, 31 March | 2026Total, 31 March | 2025Total, 31 March | Source |
|---|---|---|---|---|---|---|---|
| Assets and liabilities | |||||||
| Segment assetsHK$'000 | 34,186 | 18,620 | 163,271 | 153,196 | 197,457 | 171,816 | PDF p. 140 |
| Segment liabilitiesHK$'000 | 3,211 | 2,108 | 163,200 | 129,682 | 166,411 | 131,790 | PDF p. 140 |
Notes
HK$'000. Assets and liabilities are managed on a group basis and are not allocated to operating segments except for trade and other receivables, inventories, contract assets, refundable deposits, restricted cash, trade payables and contract liabilities. Unallocated items are shown in Total columns only. Unlabelled subtotals: unallocated assets 257,312 / 269,671; unallocated liabilities 89,793 / 85,632.
Revenue from major products and services 3 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Revenue from major products and services | |||
| IT ServicesHK$'000 | 63,193 | 82,957 | PDF p. 141 |
| Azeus ProductsHK$'000 | 403,557 | 391,839 | PDF p. 141 |
| TotalHK$'000 | 466,750 | 474,796 | PDF p. 141 |
Notes
HK$'000. Revenue from external parties is measured consistently with consolidated profit or loss and other comprehensive income.
By geography
Geographical information - revenue by region or country where sales are generated 7 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Geographical information | |||
| Hong Kong and AsiaHK$'000 | 266,046 | 301,672 | PDF p. 141 |
| United Kingdom and EuropeHK$'000 | 58,068 | 54,419 | PDF p. 141 |
| Middle EastHK$'000 | 64,873 | 51,120 | PDF p. 141 |
| AfricaHK$'000 | 30,963 | 25,435 | PDF p. 141 |
| Australia and New ZealandHK$'000 | 25,963 | 21,428 | PDF p. 141 |
| North America and South AmericaHK$'000 | 20,837 | 20,722 | PDF p. 141 |
| TotalHK$'000 | 466,750 | 474,796 | PDF p. 141 |
Notes
HK$'000.
Non-current assets by geography 6 lines
| Item / unit | 202631 March | 202531 March | Source |
|---|---|---|---|
| Non-current assets | |||
| Hong KongHK$'000 | 21,558 | 30,025 | PDF p. 142 |
| PhilippinesHK$'000 | 12,947 | 12,165 | PDF p. 142 |
| Asia (except Hong Kong and Philippines)HK$'000 | 1,838 | 273 | PDF p. 142 |
| United Kingdom and EuropeHK$'000 | 236 | 132 | PDF p. 142 |
| OthersHK$'000 | 184 | 98 | PDF p. 142 |
| TotalHK$'000 | 36,763 | 42,693 | PDF p. 142 |
Notes
HK$'000. Non-current assets consist of property, plant and equipment, right-of-use assets, deferred income tax assets and refundable deposits as presented in the consolidated balance sheet.
Debt
Borrowings
Borrowing notes 1 tables
Lease liabilities – Group (current/non-current)
| Item / unit | 2026HK$'000, 31 March 2026 | 2025HK$'000, 31 March 2025 | Source |
|---|---|---|---|
| Lease liabilities | |||
| CurrentHK$'000 | 4,755 | 5,598 | PDF p. 116 |
| Non-currentHK$'000 | 15,870 | 19,365 | PDF p. 116 |
| Total lease liabilities (unlabelled total)HK$'000 | 20,625 | 24,963 | PDF p. 116 |
| Interest expense on lease liabilitiesHK$'000 | 1,051 | 1,012 | PDF p. 116 |
Notes
The Group leases office space; no externally imposed covenants on these lease arrangements.
Total row has no printed label. No bank borrowings or debt securities; lease liabilities are the only debt-like item.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | While the Company does not have a formal dividend policy, it has consistently distributed a significant portion of its profits as dividends since its listing in 2004. | Company, FY2026 | PDF p. 65 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| first interim dividend | 1.60 HK$ per share | FY2026 interim dividend, ordinary share | PDF p. 65 |
| Tax-exempt one-tier interim dividend | 1.60 HK$ per ordinary share | FY2025 comparative interim dividend, Group | PDF p. 125 |
| final dividend | 2.80 HK$ per share | FY2026 proposed final dividend, ordinary share | PDF p. 65 |
| final dividend | HK$84,000,000 | FY2026 proposed final dividend total | PDF p. 125 |
| Tax-exempt one-tier final dividend paid in respect of the previous financial year | 3.90 HK$ per ordinary share | FY2025 final dividend paid during FY2026, Group; comparative (2025: HK$1.90 for FY2024 final) | PDF p. 125 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | PricewaterhouseCoopers LLP | Group | PDF p. 80 |
| Engagement partner | Chua Wei Zhen | Group | PDF p. 80 |
| Our opinion | In our opinion, the accompanying consolidated financial statements present fairly, in all material respects | Group and Company | PDF p. 76 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.