DL Holdings Group (1709) H2 2024 earnings summary

Executive summary

• Revenue increased by 5.9% year-over-year to HK$202.4 million, with gross profit up 27.1% to HK$130.5 million and a turnaround to total comprehensive income of HK$99.8 million from a loss of HK$49.5 million last year.

• Major growth was driven by expansion in financial services, including the acquisition of the remaining 55% of DL Family Office HK, while apparel business revenue declined sharply.

• Gross profit margin improved to 64.5% from 53.7% year-over-year, reflecting a shift in revenue mix and cost control.

Financial highlights

• Revenue: HK$202.4 million (up 5.9% year-over-year).

• Gross profit: HK$130.5 million (up 27.1% year-over-year).

• Net profit: HK$99.9 million (vs. net loss of HK$49.2 million prior year).

• EPS: Basic 7.17 HK cents, Diluted 7.12 HK cents (vs. loss per share of 3.52 HK cents prior year).

• Proposed final dividend: HK1.98 cents per share (up from HK1.03 cents prior year).

Outlook and guidance

• Management expects a challenging environment due to global economic uncertainty and high interest rates, especially for the apparel segment.

• Strategic focus will remain on expanding financial services, particularly family office and asset management in Asia-Pacific.

• New digital family office initiatives and cross-border cooperation are planned to broaden client base and service offerings.