Modern Living Delivers 33% Revenue Surge and Higher Interim Dividend in 1H26

Bulletin Express
09/14

Modern Living Investments Holdings Limited (“Modern Living”) reported a solid first-half performance for the six months ended 30 June 2026, underpinned by expanded public-housing management contracts and ongoing digital-driven efficiency gains.

Financial Highlights • Revenue advanced 33.29 % year on year to HK$261.70 million, reflecting the start-up of new property-management mandates won in late-2025 and early-2026.

• Profit attributable to shareholders rose 18.94 % to HK$10.36 million.

• Basic earnings per share increased to HK1.30 cents from HK1.09 cents.

• Interim dividend lifted 11.6 % to HK0.625 cent per share (1H25: HK0.56 cent), payable on or before 9 October 2026 to shareholders on record as of 14 September 2026.

Operational Metrics • Active portfolio comprised 15 Hong Kong Housing Authority public-housing estates plus 18 Home Ownership Scheme estates.

• One additional contract was secured during the period; remaining phases will commence in 2H26, supporting forward revenue visibility.

• Employee count reached 2,484, driving employee-benefit expenses up 32.4 % to HK$237.35 million in line with contract expansion.

Cost & Margin Dynamics • Cleaning-material costs climbed to HK$2.77 million (1H25: HK$1.47 million). • Other operating expenses grew 32.0 % to HK$9.48 million, driven by higher maintenance, office supplies and uniform costs. • Operating profit improved to HK$11.47 million (1H25: HK$8.05 million).

Balance-Sheet & Liquidity • Cash and cash equivalents stood at HK$24.37 million (31 Dec 2025: HK$48.60 million) after dividend payment and capex of HK$0.41 million. • Net gearing (lease liabilities/total equity) edged down to 0.29 % (31 Dec 2025: 0.62 %). • Current assets totalled HK$214.79 million against current liabilities of HK$56.57 million. • Banking facilities are secured by HK$29.11 million of pledged deposits and corporate guarantees.

Technology & Quality Initiatives Modern Living continued deploying drones for façade inspection, AI-driven image analytics, and co-developed a water-tank cleaning robot to enhance safety and efficiency. The company is also building a digital-twin-based property-management platform and maintains ISO 9001, 10002, 14001 and 45001 certifications.

Corporate Updates • No material acquisitions, disposals or major capital commitments were recorded during the period. • 46 performance bonds totalling HK$121.60 million were outstanding with no claims anticipated. • The share-based incentive pool remains unchanged at 48 million ungranted options under the 2017 Share Option Scheme.

Outlook Management anticipates sustained demand from Hong Kong’s expanding public-housing pipeline and intends to bid for additional contracts while advancing its technology integration strategy to drive further operational gains.

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