FAIRWOOD HOLD(00052)

Search documents
大快活集团(00052) - 2019 - 年度财报
2019-07-30 09:57
Financial Performance - Revenue for the year was HK$2,970.5 million, an increase of 4.6% from HK$2,840.6 million in 2018[34] - Profit for the year decreased by 16.7% from HK$216.1 million to HK$179.9 million[34] - Basic earnings per share were HK$140.00, down from HK$169.16 in 2018[34] - Return on average equity was 23.4%, down from 29.2% in 2018[34] - The profit attributable to equity shareholders has decreased from HK$216.1 million in 2018 to HK$179.9 million in 2019[37] - The gross profit margin receded to 12.9%, compared to 14.3% in the previous year[46] - The Group's revenue increased by 4.6% year-on-year to HK$2,970.5 million for the year ended 31 March 2019, compared to HK$2,840.6 million in 2018[46] - Profit attributable to equity shareholders decreased by 16.7% to HK$179.9 million, down from HK$216.1 million in 2018[46] Dividends - Proposed final dividend of HK$81.0 cents per share, with a total dividend per share for the year of HK$118.0 cents and a payout ratio of approximately 84%[34] - The Board recommended a final dividend of HK81.0 cents per share, down from HK105.0 cents in 2018, resulting in a total annual dividend of HK118.0 cents, which represents approximately 84% of the Group's profit for the year[47] - An interim dividend of HK37.0 cents was paid on December 31, 2018, and a final dividend of HK81.0 cents is recommended for the year ended March 31, 2019, down from HK105.0 cents in 2018[162] - The proposed final dividend is HK81.0 cents per share, totaling HK$104,207,000, down from HK$134,183,000 in 2018[164] Store Operations and Expansion - The Group opened a total of seven new fast food stores in Hong Kong during the year, expanding its business network[64] - Specialty restaurant brands, ASAP and Taiwan Bowl, showed significant sales growth, with a total of ten specialty restaurants operating as of 31 March 2019[65] - In Mainland China, the same-store sales growth rate was approximately -6% due to renovations and investments in new stores[70] - The Group operated a total of 148 stores in Hong Kong, including 138 fast food stores and ten specialty restaurants, and 11 stores in Mainland China as of 31 March 2019[71] - Future plans include expanding the brand presence in Hong Kong and developing the local market in Mainland China, leveraging popular home delivery platforms[84] Financial Position - The net assets of the company have been steadily increasing, reflecting a strong financial position[38] - As of 31 March 2019, the total assets of Fairwood Holdings Limited were HK$1,275.8 million, a decrease from HK$1,291.7 million in 2018[91] - The Group's working capital increased to HK$248.3 million in 2019 from HK$210.3 million in 2018, with a current ratio of 1.6 compared to 1.5 in the previous year[94] - The Group maintained a healthy financial position with total bank loans of HK$0.1 million in 2019, down from HK$1.9 million in 2018, resulting in a gearing ratio of 0.0%[96] Employee and Community Engagement - Total employee costs for the year were approximately HK$963.2 million, an increase from HK$904.7 million in 2018[116] - The Group's total number of employees remained stable at approximately 5,600 as of March 31, 2019[116] - Fairwood distributed over 180,000 "Care for Seniors" cards, representing more than 10% of the senior citizen population in Hong Kong, providing discounts for dining[75] - The Group is committed to supporting environmental protection and complying with relevant regulations, with detailed information to be discussed in the Environmental, Social and Governance Report[159] Corporate Governance and Leadership - The Company is committed to maintaining high standards of corporate governance with independent non-executive directors overseeing audit and remuneration committees[143] - The Company has a strong leadership team with members holding advanced degrees in finance, business administration, and economics, contributing to strategic decision-making[130] - The Company has been actively expanding its management team with experienced professionals from various industries to enhance operational efficiency[134] Strategic Initiatives - The Company is focused on developing new products and technologies to meet market demands and improve customer satisfaction[132] - The Company has a strategic plan for market expansion, aiming to increase its presence in key regions and enhance brand recognition[138] - The Company is exploring potential mergers and acquisitions to drive growth and diversify its business portfolio[144] - The Company aims to leverage its financial management expertise to optimize resource allocation and improve overall financial performance[137] Share Option Scheme - The total number of shares available for issue under the Share Option Scheme is 5,003,528 shares, representing approximately 3.87% of the issued share capital of the Company[181] - The purpose of the Share Option Scheme is to attract and retain quality personnel and align the interests of option holders with shareholders[179] - The options granted under the Share Option Scheme are unlisted and provide the right to subscribe for one ordinary share of HK$1 each[193] - The maximum entitlement for any one participant under the Share Option Scheme shall not exceed 1% of the Company's shares in issue within any twelve-month period[181] - The market value per share decreased from HK$30.80 in 2018 to HK$27.65 in 2019[178] Risk Management - Further discussion on principal risks and uncertainties facing the Group can be found in the "Business Review" and "Prospects" sections of the annual report[155] - The Group's receipts and expenditures were mainly denominated in Hong Kong dollars and Renminbi, with foreign currency risk primarily from US dollars and Renminbi[104][105] - The Group does not expect significant movements in the US dollar/Hong Kong dollar exchange rate due to the peg between the two currencies[105]