Business
Baguio Green Group (01397.HK) Announces 2024 Annual Results with Net Profit hits Historical High since listing
Baguio Green Group Limited (''Baguio'' or the ''Group'', Stock Code: 01397.HK) is pleased to announce its annual results for the year ended 31 December 2024 (the "Year").
About this update from Baguio Green Group Ltd
[{"type":"text","content":"Favorable policies driving rapid growth","length":39,"tagName":"p"},{"type":"text","content":"HONG KONG, March 27, 2025 /PRNewswire/ -- Baguio Green Group Limited (''Baguio'' or the ''Group'', Stock Code: 01397.HK) is pleased to announce its annual results for the year ended 31 December 2024 (the "Year").","length":254,"tagName":"p"},{"type":"text","content":"Revenue for the Year amounted to approximately HK$2.60 billion, representing an increase of approximately 11.8% as compared to the same period last year. Profit for the Year amounted to approximately HK$56.5 million, representing an increase of approximately 17.3% as compared to the same period last year. The Board recommends the payment of a final dividend for the Year at HK$3.8 cents per share.","length":404,"tagName":"p"},{"type":"text","content":"Business Overview and Prospects","length":31,"tagName":"p"},{"type":"text","content":"The Group's core business, cleaning services, recorded growth in the Year. Revenue from cleaning services increased by 14.2% to approximately HK$2,086.8 million, accounting for approximately 80.1% of the Group's total revenue. The Group's Government-related street cleaning services cover a total of seven districts, serving a population of approximately 2.8 million, marking Baguio's leading position in the Hong Kong cleaning services market. During the Year, the Group's mechanical street sweeping services covered various districts in Hong Kong. In addition, the Group provides cleaning services for Government markets, facilities, and leisure venues across various districts in Hong Kong. The Group's other cleaning sites cover hospitals, Government clinics, Hong Kong International Airport, schools, housing estates and private institutions, demonstrating that the Group's professional services are widely recognised.","length":951,"tagName":"p"},{"type":"text","content":"Waste management and recycling business recorded growth in revenue during the Year which increased by approximately 2.5% to approximately HK$285.8 million, accounting for approximately 11.0% of the Group's total revenue. Gross profit of the waste management and recycling business increased significantly by approximately 58.2% to approximately HK$33.5 million, mainly due to the Government'...