HONG KONG, Feb 12, 2018 - (Media OutReach) - WWPKG Holdings Company Limited ("WWPKG", together with its subsidiaries, the "Group"; HKSE: 8069), a leading travel agent in Hong Kong, announced its results for the nine months ended 31 December 2017.
Financial Highlights
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Nine months ended 31 Dec
2017 2016
HK$'000 (unaudited) (audited)
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Revenue 330,567 282,583
Sales of package tours 324,533 276,817
Margin income from sales of the FIT products 1,461 2,215
Margin income from sales of ancillary travel related products
and services 4,573 3,551
Gross profit 47,673 40,573
Profit/(loss) and total comprehensive income/(loss) for the period
1,460 (12,560)
Basic earnings/(loss) per share (HK cents) 0.36 (4.12)
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Business Review
For the nine months ended 31 December 2017, the Group recorded total revenue of approximately HK$330.57 million, representing an increase of 17.0% as compared to the corresponding period in 2016, which was mainly due to the following
- sales of package tours for the nine months ended 31 December 2017 improved, when the number of tour participants increased by 16.1%, especially during the Easter holidays' period coupled with the cherry blossom season in Japan in April 2017, as compared to the corresponding period in 2016; and
- sales of package tours bound for Japan during the nine months ended 31 December 2016 was first negatively impacted by the Kumamoto Earthquake that occurred in April 2016, when the Group's package tours bound for Kyushu in Japan during the period from 15 April 2016 to 27 June 2016 were completely suspended, and then the appreciation of Japanese Yen ("JPY") against HK$ between the months of June 2016 and October 2016 led to the decrease in demand of customers who were cost conscious of the Group's Japan bound tours, especially during the summer holiday's months of July and August.
As a result of the increased revenue, coupled with the fact that no listing expenses were charged for the period, the Group achieved profit turnaround with its net profit for the nine months ended 31 December 2017 amounted to HK$1.46 million as compared to a net loss of HK$12.56 million for the corresponding period in 2016.
Future Prospects
The Group will continue to put forth its best efforts to drive business performance and growth by:
- introducing new routes (including collaboration with airline suppliers to develop charter flights and/or charter routes), itineraries, activities and hotel accommodations from time to time in order to offer new and/or better travel experience to its customers;
- enhancing its integrated online sales platform through a number of further major enhancements so that such platform will eventually satisfy most of the travel needs of the Group's customers as a user-friendly and informative one-stop shop;
- boosting its marketing efforts on both digital marketing and through collaboration with its spokesperson to raise the awareness of the Group's brand and enhance the popularity of its products; and
- exploring investment opportunities that could create operating synergies.
Going forward, the Directors expect that the overall financial performance of the Group for the year ending 31 March 2018 will continue to benefit from the absence of the adversities affecting the Group's operations in the previous year (namely, natural disasters and substantial appreciation of JPY against HK$) and the non-recurring listing expenses. The Group is in the process of implementing appropriate upgrading of its systems to defend against cyber attacks and will continue to strengthen the security of its systems to safeguard its customers' information and privacy.
About WWPKG Holdings Company Limited
WWPKG was founded in June 1979. The Group has become one of the long-established and well-known local travel agents, with 39 years of business in the travel service industry in Hong Kong. Its major business includes the provision of outbound package tours with particular focus on Japan bound tours. The Group also offers other travel products and services to customers including free independent traveller (the "FIT") products and other ancillary travel related products and services.
Currently, the Group sells products and services through a number of channels including four branches in Causeway Bay, Tsim Sha Tsui, Mongkok and Shatin, as well as online sales platform. The Group also sells tailor made tours to customers through MICE tour department, as well as travel products to other travel agents in Hong Kong and Macau.
According to the industry research report, the Group was the second largest travel agent in Hong Kong in terms of number of travellers for package tours bound for Japan in 2015, and ranked eighth in terms of number of travellers for outbound package tours amongst the travel agents in Hong Kong which provided outbound package tours in 2015.
For media inquiries, please contact:
Stimulus Investor Relations Ltd.
Contact: Ms. Hill Ho / Mr. Michael Yeung
Tel: +852 3159 2944 / +852 3159 2994
Email: hill.ho@stimulus-ir.com / michael.yeung@stimulus-ir.com
Topic: Press release summary
Source: WWPKG Holdings Company Limited
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