Financial Performance - The group's revenue increased by 1.2% to HKD 1,403.5 million for the six months ended September 30, 2024[2]. - Profit for the first half of 2025 was HKD 36.1 million, a decrease of 55.8% compared to HKD 81.6 million in the same period last year[4]. - Total revenue for the first half of fiscal year 2025 reached HKD 1,403.5 million, a slight increase from HKD 1,387.4 million in the same period of fiscal year 2024[12]. - The operating profit for the six months ended September 30, 2024, was HKD 61.7 million, a decrease of 45.0% from HKD 112.6 million in the previous year[74]. - The net profit for the period was HKD 36.1 million, down from HKD 81.6 million in the same period last year, representing a decline of 55.7%[75]. - Basic earnings per share for the six months ended September 30, 2024, were 2.7 cents, compared to 6.1 cents for the same period in 2023[74]. Operational Developments - The company plans to open three new stores in Australia in the second half of 2025 and expand into Malaysia through new franchise agreements[2]. - The total number of restaurants expanded to 235 as of September 30, 2024[7]. - The company successfully opened nine new restaurants, bringing the total number of self-operated restaurants to 198 as of September 30, 2024[15]. - The company plans to open five new stores under its flagship brands "Tam Jai" and "Sam Go" in Hong Kong by the second half of the 2025 fiscal year, aiming to exceed 200 total stores[24]. - The company is actively developing its franchise arrangements in the Philippines, with the first franchise store planned to open in 2025, contributing to future profitability[28]. - The company plans to strategically reduce its restaurant network in Singapore to improve overall profitability, despite potential one-time costs from closing locations[21]. Market Performance - The Hong Kong market contributed 93.9% of total revenue, despite facing challenges from economic downturns and increased competition[13]. - The company recorded a 22.0% year-on-year increase in comparable restaurant revenue in Japan, attributed to successful local food offerings and effective marketing strategies[22]. - Revenue from restaurant operations increased by 1.1% from HKD 1,387.4 million in the first half of 2024 to HKD 1,402.8 million in the first half of 2025, primarily due to an increase in the number of operating restaurants[37]. - Revenue from Hong Kong restaurants was HKD 1,318.1 million, a 1.7% increase from HKD 1,296.1 million in the previous year[36]. Cost and Expenses - The food and beverage cost ratio remained stable at 24.0% for the first half of fiscal year 2025, compared to 23.6% in the same period of fiscal year 2024[14]. - Employee cost ratio slightly increased to 32.8% in the first half of fiscal year 2025, up from 31.5% in the same period of fiscal year 2024[14]. - The cost of goods sold for food and beverages increased by 2.7% to HKD 336,621 thousand compared to HKD 327,793 thousand in the previous period[32]. - The group reported a significant increase in delivery fees by 67.3%, amounting to HKD 75,615 thousand, reflecting the rising costs associated with delivery services[32]. - Other expenses increased by 18.8% from HKD 38.6 million in H1 2024 to HKD 45.9 million in H1 2025, primarily due to an increase in the number of restaurants and higher impairment provisions for underperforming restaurants[52]. Strategic Initiatives - The company is investing in digital transformation, including the development of a new POS system and CRM system, expected to launch before the end of fiscal year 2025[10]. - The introduction of the Japanese beef rice brand "Yamagyu" in Hong Kong has received positive customer feedback and contributed to business performance[15]. - The company aims to enhance its corporate culture by introducing new concepts and values, focusing on employee engagement and performance management[10]. - The company is committed to sustainable development through its ESG initiatives, focusing on community enrichment and environmental advocacy[10]. Dividend and Shareholder Information - The interim dividend declared is HKD 0.0135 per share, with a payout ratio of 50.0%[2]. - The company declared an interim dividend of HKD 0.0135 per share for the six months ended September 30, 2024, compared to HKD 0.030 per share for the same period in 2023[92]. Financial Position - Non-current assets decreased by 0.7% to HKD 1,108.4 million compared to HKD 1,116.3 million in the previous year[4]. - The return on equity decreased to 4.9% from 7.8% in the previous year[4]. - Current assets totaled HKD 1,487.8 million, down from HKD 1,506.6 million as of March 31, 2024[76]. - The net asset value decreased to 1,445,241 thousand HKD from 1,485,501 thousand HKD, indicating a decline of about 2.7%[78]. - The company’s total liabilities include lease liabilities of 438,661 thousand HKD as of September 30, 2024, compared to 425,622 thousand HKD as of March 31, 2024, marking an increase of approximately 5.4%[78]. Governance and Compliance - The company has maintained high levels of corporate governance to protect shareholder interests and enhance corporate value[102]. - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal controls[107]. - The financial report was prepared in accordance with the Hong Kong Financial Reporting Standards and has been reviewed by an independent auditor[80].
谭仔国际(02217) - 2025 - 中期业绩