Declared an interim dividend of HK1.5 cents per share

Highlights:

• Revenue generated by RMAA works increased by approximately 11.2%
• Gross profit increased by 25.0% to approximately HK$188.1 million.
• Gross profit margin increased by 1.5 p.p. to approximately 6.8%.
• Basic earnings per share was HK7.17 cents. The Board resolved to declare the payment of interim dividend of HK1.5 cents per share.

Financial Highlights:

For the 6 months ended 30 June
HK$'000	2024	2023	Change
Revenue	2,773,188	2,832,073	-2.1%
Building Construction Works Repair, Maintenance, Alteration and Addition ("RMAA") Environmental Operations	2,414,268 290,600 68,320	2,455,898 261,406 114,769	-1.7% +11.2% -40.5%
Gross profit	188,062	150,480	+25.0%
Gross profit margin Net profit	6.8% 36,220	5.3% 45,954	+1.5 p.p. -21.3%
Earnings per share (HK cents)	7.17	9.09	-21.1%

HONG KONG SAR - Media OutReach Newswire - 23 August 2024 -CR Construction Group Holdings Limited ("CR Construction" or the "Company", together with its subsidiaries, the "Group"; stock code: 1582.HK), a building contractor in Hong Kong, announced its interim results for the six months ended 30 June 2024 (the "Reporting Period"). During the Reporting Period, the revenue recorded by the Group amounted to approximately HK$2,773.2 million representing a decrease of approximately 2.1% as compared to approximately HK$2,832.1 million for the six months ended 30 June 2023 (the "Corresponding Period Last Year"). Net profit of the Group during the Reporting Period was approximately HK$36.2 million, representing a decrease of approximately 21.3% as compared to the Corresponding Period Last Year. During the Reporting Period, gross profit of the Group was approximately HK$188.1 million, representing an increase of approximately 25.0% as compared to approximately HK$150.5 million for the Corresponding Period Last Year. The Group's gross profit margin was approximately 6.8% and 5.3% for the six months ended 30 June 2024 and 2023, respectively. The gross profit margin of the Group increased slightly by approximately 1.5 percentage points by comparing the six months ended 30 June 2024 against the six months ended 30 June 2023. During the Reporting Period, earnings per share of the Group was approximately HK7.17 cents (for the six months ended 30 June 2023: HK9.09 cents). The Board has resolved to declare the payment of interim dividend of HK1.5 cents per share. BUSINESS REVIEWConstruction OperationsBuilding Construction Works For the six months ended 30 June 2024, the revenue generated from the building construction works was HK$2,414.3 million, representing a decrease of approximately 1.7% as compared to approximately HK$2,455.9 million for the six months ended 30 June 2023. During the Reporting Period, the gross profit of building construction works was approximately HK$126.7 million, representing a decrease of approximately HK$3.9 million as compared to approximately HK$130.6 million for the Corresponding Period Last Year. The gross profit margin decreased slightly to approximately 5.2% for the six months ended 2024. The decrease in gross profit and gross profit margin was mainly due to additional cost incurred for variation orders for projects during the Reporting period, while the respective revenue is expected to be recognised at a later stage. Repair, Maintenance, Alteration and Addition ("RMAA") The revenue generated from the RMAA works increased by approximately 11.2% from approximately HK$261.4 million for the six months ended 30 June 2023 to approximately HK$290.6 million for the six months ended 30 June 2024. During the Reporting Period, the gross profit of RMAA works was approximately HK$43.2 million, representing an increase of approximately HK$44.6 million from the gross loss of approximately HK$1.4 million for the six months ended 30 June 2023. The gross profit margin increased to approximately 14.9% for the six months ended 30 June 2024. The increase in the gross profit and gross profit margin for the six months ended 30 June 2024 was mainly due to additional cost incurred for variation orders for a project during the prior period, while the respective revenue were only certified during the Reporting Period. Environmental Operations For the six months ended 30 June 2024, the revenue generated from the environmental operations was approximately HK$68.3 million, representing a decrease of approximately 40.5% as compared to approximately HK$114.8 million for the six...