IWS Group 2021 Interim Revenue Up 45.6% to HK$252.7 Million

By: IWS Group Holdings Limited via ACN Newswire

November 05, 2021 at 13:34 PM EDT

HONG KONG, Nov 5, 2021 - (ACN Newswire) - IWS Group Holdings Limited ("IWS Group", together with its subsidiaries, the "Group", HKEX: 8441), the largest public security services provider in the public sector in Hong Kong and an established facility services provider, has announced its unaudited interim results for the six months ended 30 September 2021 (the "review period"). Despite the COVID-19 outbreak and the unstable economic and social environment in Hong Kong, the Group delivered satisfying performance with demand for its security and facility management services growing consistently.

As a result, the Group's revenue increased by 45.6% to HK$252.7 million. Excluding the non-recurring listing expenses for the proposed transfer of listing from GEM to the Main Board incurred in the review period and government grant income recognised during the six months ended 30 September 2020, the adjusted profit and total comprehensive income of IWS Group, reflective of its real business performance, surged by 83.9% to HK$38.9 million. Its net profit margin for the review period went up by 3.2 percentage points to 15.4%.

Business Review
Revenue from the security services segment increased by 49.6% to HK$238.1 million in the review period, primarily due to:
(i) Security guarding services provided for the three-runway system project at the Hong Kong International Airport brought in revenue of over HK$13.0 million,
(ii) Revenue of not less than HK$1.3 million from the provision of security guarding services to a bus company,
(iii) The approximately HK$70.4 million increase in revenue from COVID-19 detection support services, and
(iv) Revenue of approximately HK$11.0 million from a Hong Kong railway corporation for the provision of station assistant services.

Revenue from facility management services remained largely stable, with a 0.9% increase to HK$14.6 million.

Outlook
Looking ahead, the Group will expand the scope of its security services business, enhance its capability in providing facility management services, improve operational efficiency and scalability, and selectively pursue strategic acquisition and investment opportunities, all for achieving the goal of becoming the leading integrated facility management services provider in Hong Kong.

Mr MA Ah Muk, Chairman and Executive Director of IWS Group, said, "We are glad to see the Group enjoying greater public recognition and an improved profile after its GEM Listing in 2019 What's more, we have also achieved steady business growth with revenue, profit and margins too all up amid challenges from COVID. We are considering transferring listing to the Main Board for it would give us an even stronger status in the eyes of investors, institutional and retail, and greater financing flexibility and bargaining power with suppliers and business associates, plus competitiveness in attracting and retaining talent for growing our business and in turn boosting shareholder value in the future. Given our solid business reputation and well-trained staff, we see more business opportunities coming our way. We will keep strengthening our industry leadership and competitiveness in recruiting and retaining talent, to the ultimate end of creating greater value for shareholders."

About IWS Group Holdings Limited (HKEX: 8441)
IWS Group Holdings Limited is the largest public security services provider in the public sector in Hong Kong1 and an established facility services provider specialising in the provision of security services and facility management services across public and private sectors in Hong Kong. The Group has over 10 years of experience in providing security services at railway stations and facilities, sea, land and railway immigration control points and public amenities as well as crowd coordination and management services at various large-scale events and emergency and critical incidents in Hong Kong. The Group has been listed on GEM since 22 October 2019.

Source: IWS Group Holdings Limited

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IWS Group 2021 Interim Revenue Up 45.6% to HK$252.7 Million

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