香港食品投资(00060) - 2023 - 中期财报

Financial Performance - Revenue for the six months ended 30 September 2022 was HK$113,536,000, an increase of 21.5$93,461,000 for the same period in 2021[5] - Gross profit for the period was HK$22,839,000, representing a gross margin of 20.1$17,110,000 in the previous year[5] - Profit before tax was HK$10,544,000, compared to a loss of HK$768,000 in the same period last year, indicating a significant turnaround[5] - Net profit for the period was HK$10,455,000, compared to a loss of HK$1,112,000 in the previous year, marking a substantial improvement[8] - Earnings per share attributable to ordinary equity holders was HK$3.63, compared to a loss per share of HK$0.75 in the prior year[5] - The company reported a profit for the period of HK$9,415,000 for the six months ending 30 September 2022, compared to a loss of HK$1,948,000 in the previous period[19] Assets and Liabilities - Total non-current assets as of 30 September 2022 were HK$492,137,000, a decrease from HK$508,938,000 as of 31 March 2022[11] - Current assets totaled HK$156,889,000, down from HK$176,308,000 as of 31 March 2022, primarily due to a decrease in inventories[11] - Cash and cash equivalents were HK$84,674,000, a decrease from HK$92,452,000 as of 31 March 2022[11] - As of 30 September 2022, total non-current liabilities decreased to HK$13,520,000 from HK$18,938,000 as of 31 March 2022, representing a reduction of approximately 28.5%[13] - Net assets as of 30 September 2022 were HK$577,921,000, down from HK$604,969,000 as of 31 March 2022, indicating a decline of about 4.5%[13] - Total equity attributable to equity holders decreased to HK$570,630,000 as of 30 September 2022 from HK$598,718,000 as of 31 March 2022, a decrease of approximately 4.7%[19] Cash Flow and Financing - Net cash flows from operating activities were HK$16,937,000, a recovery from a cash outflow of HK$18,243,000 in the previous year[23] - Cash and cash equivalents at the end of the period were HK$84,674,000, down from HK$136,937,000 in the previous year, indicating a decrease of approximately 38%[23] - New bank and trust receipt loans amounted to HK$40,587,000, while repayments totaled HK$50,424,000, reflecting a net cash outflow from financing activities of HK$14,433,000[23] - The Group's investing activities resulted in a net cash outflow of HK$9,827,000, compared to a much smaller outflow of HK$315,000 in the prior year[23] Segment Performance - The Group operates in three segments: trading of frozen meats, seafood, and vegetables; restaurant operations; and marketing of meat products[44] - Segment revenue for external customers reached HK$113,536,000, with trading contributing HK$81,943,000, catering HK$29,851,000, and others HK$1,742,000[49] - The segment results showed a loss before tax of HK$2,026,000, with trading and catering segments reporting losses of HK$2,317,000 and HK$451,000 respectively[49] Shareholder Information - Director Tai Tak Fung holds 90,739,177 shares, representing approximately 34.95% of the company's total issued shares[162] - Careful Guide Limited holds 30,914,000 shares, approximately 11.91% of the company's total issued shares[162] - Special Access Limited holds 52,907,250 shares, approximately 20.38% of the company's total issued shares[162] - The total interests of Tai Tak Fung in the associated corporation FSMHL include 70,000,000 shares (18.22%), 74,250,000 shares (19.32%), and 115,228,000 shares (29.98%)[164] Corporate Governance - The Company is committed to good corporate governance, emphasizing transparency, accountability, and independence, and has complied with the Corporate Governance Code during the review period[192] - The Audit Committee, comprising three independent non-executive directors, reviewed the unaudited condensed consolidated interim financial statements for the six months ended 30 September 2022[200] - All directors confirmed compliance with the Model Code for Securities Transactions throughout the six months ended 30 September 2022[193] Strategic Initiatives - The company aims to enhance its market position through strategic initiatives, including potential market expansion and new product development[18] - The Group is adopting a prudent purchase strategy on traditional frozen meats while optimizing its product mix to achieve higher gross profit margins[131] - The Group aims to explore new potential customers, particularly in the supermarket and restaurant categories, to achieve sales growth and higher gross profit margins[132]