Town Ray Holdings Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	672.65	703.59	704.42	823.66	763.09
Revenue Growth (YoY)	-4.40%	-0.12%	-14.48%	7.94%	40.87%
Cost of Revenue	493.48	471.84	459.04	561.2	542.1
Gross Profit	179.16	231.75	245.38	262.46	220.99
Selling, General & Admin	110.48	114.42	111.18	106.88	99.16
Other Operating Expenses	-1.58	3.2	-0.69	1.02	-0.36
Operating Expenses	108.9	117.62	110.48	107.9	98.81
Operating Income	70.27	114.13	134.89	154.56	122.18
Interest Expense	-2.96	-2.31	-2.59	-3.97	-0.84
Interest & Investment Income	2.2	4.74	6.13	0.88	1.24
Currency Exchange Gain (Loss)	0.12	5.24	2.72	5.34	0.61
Other Non Operating Income (Expenses)	5.62	8.67	5.62	4.86	2.68
EBT Excluding Unusual Items	75.25	130.47	146.78	161.66	125.86
Gain (Loss) on Sale of Assets	-	-0.04	-0.02	-0.63	-
Asset Writedown	-0.1	-0.01	-	-	-
Other Unusual Items	-	-	-	0	-
Pretax Income	75.15	130.42	146.76	161.03	125.86
Income Tax Expense	12.56	22.81	24.55	26.72	19.36
Net Income	62.58	107.61	122.21	134.31	106.5
Net Income to Common	62.58	107.61	122.21	134.31	106.5
Net Income Growth	-41.84%	-11.94%	-9.01%	26.11%	2.22%
Shares Outstanding (Basic)	359	359	359	359	359
Shares Outstanding (Diluted)	359	359	359	359	359
Shares Change (YoY)	-	-	-	-	-5.13%
EPS (Basic)	0.17	0.30	0.34	0.37	0.30
EPS (Diluted)	0.17	0.30	0.34	0.37	0.30
EPS Growth	-41.84%	-11.94%	-9.01%	26.11%	7.75%
Free Cash Flow	-	0.41	183.13	211.89	-22.78
Free Cash Flow Per Share	-	0.00	0.51	0.59	-0.06
Dividend Per Share	0.145	0.271	0.301	0.301	0.258
Dividend Growth	-46.49%	-9.97%	-	16.67%	10.73%
Gross Margin	26.63%	32.94%	34.83%	31.86%	28.96%
Operating Margin	10.45%	16.22%	19.15%	18.77%	16.01%
Profit Margin	9.30%	15.29%	17.35%	16.31%	13.96%
Free Cash Flow Margin	-	0.06%	26.00%	25.73%	-2.99%
EBITDA	84.53	128.39	149.21	167.01	135.95
EBITDA Margin	12.57%	18.25%	21.18%	20.28%	17.82%
D&A For EBITDA	14.26	14.26	14.32	12.45	13.77
EBIT	70.27	114.13	134.89	154.56	122.18
EBIT Margin	10.45%	16.22%	19.15%	18.77%	16.01%
Effective Tax Rate	16.72%	17.49%	16.73%	16.59%	15.38%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.