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press releases
03 Dec 2018
Synergy Group’s FY2018/19 Interim Results Revenue Up by 26.6% to HK$171.1 Million Net Profit Surges by 75.8% to HK$75.9 Million

Synergy Group just announced its unaudited condensed consolidated interim results for the six months ended 30 September 2018 (the “Period”).

The Group’s revenue was approximately HK$171.1 million for the six months ended 30 September 2018, representing an increase of 26.6% as compared to that for the six months ended 30 September 2017. The increase was mainly attributed to the well performance of the Group’s overall energy-saving business, particularly in the development of the overseas markets. Consequently, the Group’s gross profit recorded a 5.5% increase to approximately HK$74.8 million (1HFY2018: approximately HK$70.9 million). EBITDA also increased significantly by 68.4% to approximately HK$96.7 million (1HFY2018: approximately HK$57.5 million) with improved EBITDA margin to 56.5% (1HFY2018: 42.5%).

Profit attributable to owners of the Company surged by 75.8% to approximately HK$75.9 million (1HFY2018: approximately HK$43.2 million). The increase in net profit was mainly attributable to the increase in gain on deemed disposal of associates (i.e., Invinity Energy Group Limited (“Invinity”) and its subsidiaries, collectively referred to as “Invinity Group”) of more than HK$45 million during the Period, where the approximately 23.6% equity interest of Invinity Group held by the Group was accounted for as an equity investment at fair value through profit or loss during the Period; although the growth in net profit was partially off-set by an increase in the unrealised foreign exchange loss primarily derived from the depreciation of Indonesian rupiah against Hong Kong dollar; as well as the increase in share-based payment expenses as a result of the share options granted by the Group in April 2018. Basic earnings per share during the Period were approximately HK$13.8 cents.