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The principal activities of the group include property investment, hotel operation and investment holding.
Performance for the year:
Turnover of the Group for the year ended 31 March 2016 amounted to approximately HK$134 million which solely comprised the turnover generated from the hotel operation, representing a decrease of 3% when compared with the turnover of approximately HK$138 million generated in last year.
The Group recorded a profit attributable to owners of the Company of approximately HK$36 million for the year ended 31 March 2016, which is similar when compared with the profit attributable to owners of the Company of approximately HK$36 million for the year ended 31 March 2015.
The Group operates the Mexan Harbour Hotel, 800-room hotel in Tsing Yi. In 2015, the economy of Mainland China stayed in growth territory, resulting the average room rate increased from April to December 2015. It is because the average room rate decreased from January to March 2016, resulting the total income slightly decrease comparing with last year. The Group closely monitors the business environment and adapts quickly to overcome challenges we encountered.
Looking forward, Hong Kong’s hospitality industry may remain weak in the near term, adversely affected by the sluggish global economic condition and a slowdown of inbound tourism. The operating environment for the hotel market will be quite challenging this year. With our experienced management team, we are confident that we can tackle these challenges. Our core businesses will continue to generate recurrent and stable income. The Group is financially healthy and will deliver satisfactory growth and sustainable returns to our shareholders.