Financial Results 2016/17

1. 2016/17 was a challenging year for the OFCA Trading Fund. The profit before tax fell to HK$72.0 million from HK$76.6 million in 2015-16. However, with a decrease in average net fixed assets (ANFA), the rate of return on ANFA increased to 22.3% from 16.3% a year before.
2. The total revenue at HK$491.3 million was lower than the amount of HK$501.1 million last year due to decreased interest income from the placement with the Exchange Fund, partly offset by the recovery of previous years’ licence fees in connection with a lawsuit.
3. On the expenditure side, the total expenditure dropped by 1.2% to HK$419.3 million in 2016/17 as a result of our continued efforts to contain operating costs amidst increase in staff costs.
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 2015/16 figures