2021/22 was a challenging year for the OFCA Trading Fund. The profit for the year rose to HK$8.0 million from HK$3.9 million in 2020/21. For the rate of return on average net fixed assets (ANFA), it dropped to -16.1%* from -12.8% last year, which was primarily the result of a decrease in total revenue.
The total revenue at HK$477.1 million was lower than the amount of HK$481.9 million last year mainly due to a decrease in sundry income from recovery of legal fees, partly offset by an increase in revenue from licence fees.
On the expenditure side, the total expenditure fell by 1.9% to HK$469.1 million in 2021/22 mainly due to decrease in staff costs and expense on settlement of restitution claims, partly offset by increase in operating expenses and consultancy fees.
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.