Financial Results 2015/16

1. 2015/16 was a challenging year for the OFCA Trading Fund. The profit before tax fell to HK$76.6 million from HK$86.5 million in 2014/15. The rate of return on average net fixed assets (ANFA) decreased to 16.3% from 24.2% a year before. This was primarily the result of increased operating expenditure, partly offset by a decrease in ANFA.
2. The total revenue at HK$501.1 million was higher than the amount of HK$484.6 million last year due to higher revenue from licence fees and increased interest income from the placement with the Exchange Fund.
3. On the expenditure side, the total expenditure rose by 6.6% to HK$424.5 million in 2015/16 mainly due to an increase in staff costs and consultancy fees, as well as provision of impairment loss on debt items.
4. Looking ahead, we are optimistic that the communications sector in Hong Kong will remain vibrant and dynamic. With a robust financial position and a dedicated and professional team in OFCA, we are well placed to face the challenges in the coming year.

Highlights of the financial performance:

Revenue

Expenditure

* In parentheses are 2014/15 figures