Financial Performance - Revenue for the six months ended September 30, 2021, was HK$93,461,000, representing an increase of 46.2% compared to HK$63,983,000 for the same period in 2020[5]. - Gross profit for the period was HK$17,110,000, up 121.5% from HK$7,704,000 in the previous year[5]. - The company reported a loss for the period of HK$1,112,000, compared to a profit of HK$5,600,000 in the same period last year[5]. - Total comprehensive income for the period was HK$3,055,000, down from HK$16,298,000 in the previous year[8]. - Earnings per share for the period were reported at HK$-0.75, down from HK$2.10 in the same period last year[5]. - The company recorded a profit before tax of HK$768,000 for the six months ended September 30, 2021, compared to a profit of HK$5,600,000 for the same period in 2020[19]. - The Group recorded a loss attributable to equity holders of approximately HK$1,948,000, compared to a profit of approximately HK$5,459,000 in the previous year, primarily due to the absence of COVID-19 related government subsidies[123]. Assets and Liabilities - Non-current assets as of September 30, 2021, totaled HK$496,880,000, an increase from HK$488,496,000 as of March 31, 2021[11]. - Current assets increased to HK$207,542,000 from HK$195,540,000 as of March 31, 2021[11]. - Total liabilities as of September 30, 2021, were HK$76,495,000, with segment liabilities in trading at HK$54,553,000 and catering at HK$13,540,000[43]. - As of September 30, 2021, total non-current liabilities decreased to HK$10,466,000 from HK$13,589,000 as of March 31, 2021, representing a reduction of approximately 22.8%[13]. - Net assets increased to HK$627,927,000 as of September 30, 2021, compared to HK$624,872,000 as of March 31, 2021, reflecting a growth of 0.4%[13]. Cash Flow - The company reported a net cash outflow from operating activities of HK$18,243,000 for the six months ended September 30, 2021, compared to a net outflow of HK$2,619,000 for the same period in 2020[19]. - Cash and cash equivalents at the end of the period were HK$136,937,000, down from HK$159,888,000 as of September 30, 2020, showing a decrease of 14.3%[19]. - The company reported a net cash inflow from financing activities of HK$10,417,000 for the six months ended September 30, 2021, compared to HK$1,229,000 for the same period in 2020[19]. Segment Information - The Group's operating segments include trading of frozen meats, seafood, and vegetables, catering operations, and marketing of meat products[30][32]. - Sales to external customers in the trading segment amounted to HK$73,198,000, while catering segment sales were HK$17,743,000, and other sales were HK$2,520,000[50]. - Segment assets as of September 30, 2021, totaled HK$221,994,000, with trading segment assets at HK$186,981,000 and catering segment assets at HK$25,842,000[43]. Operational Highlights - The frozen meats trading business revenue increased by 29.4% compared to the same period last year, driven by an enhanced product portfolio[124]. - Customer traffic for the Group's restaurants rebounded significantly as consumers are willing to pay more for healthy and tasty food, leading to increased dine-in numbers and extended business hours[135]. - The newly opened restaurant "Gyumai" in Yuen Long performed outstandingly in revenue and profit, offering a variety of premium beef options, further enhancing the Group's presence in high-end catering[139]. Financial Management - The Group has banking facilities of HK$220,753,000 as of September 30, 2021, with 16% utilized[154]. - The Group's gearing ratio is 6%, indicating a low level of debt relative to equity[154]. - The Group's financial team is responsible for determining the policies and procedures for fair value measurement of financial instruments, reporting directly to the executive directors and audit committee[97]. Shareholder Information - The directors and chief executive hold a total of 90,739,177 shares, representing approximately 34.95% of the Company's total issued shares[166]. - As of September 30, 2021, Mr. Tai Tak Fung, Stephen holds 259,478,000 shares, representing approximately 67.52% of the total issued shares of FSMHL[30]. - No directors or chief executives had any interests or short positions in the shares of the company or its associated corporations as of September 30, 2021[173]. Market Conditions - Global supply of frozen meats was unstable, with delays in container shipments and increased freight costs due to COVID-19 screening procedures[126]. - The overseas customer traffic for restaurants and catering was significantly impacted by travel restrictions, leading to decreased food and beverage consumption by tourists[125].
香港食品投资(00060) - 2022 - 中期财报