2022/23 was a challenging year for the OFCA Trading Fund. The profit for the year fell to HK$5.2 million from HK$8.0 million in 2021/22. For the rate of return on average net fixed assets (ANFA), it dropped to -26.7%* from -16.1% last year, which was primarily the result of an increase in operating expenditure.
The total revenue at HK$489.4 million was higher than the amount of HK$477.1 million last year mainly due to increase in revenue from licence fees as well as interest income from bank deposits.
On the expenditure side, the total expenditure rose by 3.2% to HK$484.2 million in 2022/23 mainly due to increase in staff costs and operating expenses.
The rate of return on ANFA is calculated as total comprehensive income (excluding, if any, interest income, interest expenses and settlement of restitution claims) divided by average net fixed assets, and expressed as a percentage. Fixed assets include property, plant and equipment and intangible assets only.
