Workflow
谭仔国际(02217) - 2023 - 年度财报
02217TAM JAI INTL(02217)2023-07-13 08:32

Revenue and Profit - Revenue increased by 14.0% to HK2,594.6millionyear−on−year,mainlyattributabletotheincreasednumberofrestaurantsinoperation[25]−Profitfortheyeardecreasedby30.62,594.6 million year-on-year, mainly attributable to the increased number of restaurants in operation[25] - Profit for the year decreased by 30.6% to HK140.9 million, with a profit margin of 5.4% compared to 8.9% in the previous year[10] - Revenue from takeaway and delivery services contributed 45.3% of total revenue in FY2023[18] - Revenue for the fiscal year 2023 was HK2,594.6million,withacomparablerestaurantrevenueofHK2,594.6 million, with a comparable restaurant revenue of HK1,980.3 million, reflecting a decrease of 2.0% from HK2,020.2millioninfiscalyear2022[70][72]−Operatingprofitdecreasedby6.62,020.2 million in fiscal year 2022[70][72] - Operating profit decreased by 6.6% to HK445.4 million in FY2023, with an operating profit margin of 17.2%, down from 20.9% in FY2022[84] Expansion and Growth - In Singapore, revenue reached HK64.2millioninFY2023,representinga149.864.2 million in FY2023, representing a 149.8% year-on-year increase[27] - The company aims to open approximately 50 new restaurants in various regions in FY2024 as part of its expansion strategy[52] - The company accelerated its expansion strategy in Mainland China, opening 12 new restaurants in tier 2 cities of the Greater Bay Area during FY2023[37] - In FY2023, the company opened 20 new restaurants in Hong Kong, enhancing its restaurant network for recovery in FY2024[36] - The total number of self-operated restaurants increased from 86 in FY2022 to 104 in FY2023, with significant growth in Hong Kong and Singapore[86] Operational Efficiency and Costs - The cost of food and beverages consumed increased by 19.7% from HK518.3 million in fiscal year 2022 to HK620.3millioninfiscalyear2023,representing23.9620.3 million in fiscal year 2023, representing 23.9% of revenue[78] - Staff costs rose by 14.6% from HK722.8 million in fiscal year 2022 to HK828.6millioninfiscalyear2023,accountingfor31.9828.6 million in fiscal year 2023, accounting for 31.9% of revenue[79] - Depreciation of owned property, plant, and equipment increased by 33.4% from HK92.2 million in fiscal year 2022 to HK123.0millioninfiscalyear2023[80]−Utilitiesexpensesincreasedby37.9123.0 million in fiscal year 2023[80] - Utilities expenses increased by 37.9% from HK53.0 million in FY2022 to HK73.1millioninFY2023,drivenbythegrowthinthenumberofrestaurantsandrisingchargerates[125]−Otherexpensesgrewby39.173.1 million in FY2023, driven by the growth in the number of restaurants and rising charge rates[125] - Other expenses grew by 39.1% from HK51.1 million in FY2022 to HK71.1millioninFY2023,mainlyduetotheincreaseinthenumberofrestaurantsandexpansionofheadquarters[106]MarketingandBrandDevelopment−Thecompanyaimstopromotethe"TamJai"brandinoverseasmarketsaspartofitsinternationalexpansionplan[35]−Thecompanyiscommittedtobuildingstrongcustomerloyaltyandbrandrecognitionthroughinnovativemarketingstrategies[32]−ThecompanylaunchedaseriesofbrandingandpromotioncampaignsinJapan,includingthe"SpicyChallenges"campaign,tobuildbrandawareness[41]−Thecompanysuccessfullyconductedbrand−buildingactivitiesinMainlandChinaandSingapore,enhancingbrandawareness[61]−Thecompanyaimstointegrateitsbrandintolocalmarketsthroughvariouspromotionalactivitiesandsocialmediaengagement[61]FinancialPositionandAssets−Non−currentassetsincreasedby10.071.1 million in FY2023, mainly due to the increase in the number of restaurants and expansion of headquarters[106] Marketing and Brand Development - The company aims to promote the "Tam Jai" brand in overseas markets as part of its international expansion plan[35] - The company is committed to building strong customer loyalty and brand recognition through innovative marketing strategies[32] - The company launched a series of branding and promotion campaigns in Japan, including the "Spicy Challenges" campaign, to build brand awareness[41] - The company successfully conducted brand-building activities in Mainland China and Singapore, enhancing brand awareness[61] - The company aims to integrate its brand into local markets through various promotional activities and social media engagement[61] Financial Position and Assets - Non-current assets increased by 10.0% to HK1,161.1 million[10] - Current liabilities rose by 10.2% to HK630.5million[10]−Cashandcashequivalentsasof31March2023wereHK630.5 million[10] - Cash and cash equivalents as of 31 March 2023 were HK1,375.7 million, slightly up from HK1,365.2millionasof31March2022[113]−Right−of−useassetsincreasedfromHK1,365.2 million as of 31 March 2022[113] - Right-of-use assets increased from HK700.8 million as of 31 March 2022 to HK768.6millionasof31March2023duetomoretenancyagreementsforrestaurantsandoffices[131]−TradeandotherpayablesandaccrualsincreasedfromHK768.6 million as of 31 March 2023 due to more tenancy agreements for restaurants and offices[131] - Trade and other payables and accruals increased from HK199.4 million as of 31 March 2022 to HK238.4millionasof31March2023,resultingfromoperationalexpansion[133]EmployeeandStaffing−Thecompanyhad3,363employeesasofMarch31,2023,anincreaseof12.3238.4 million as of 31 March 2023, resulting from operational expansion[133] Employee and Staffing - The company had 3,363 employees as of March 31, 2023, an increase of 12.3% from 2,990 employees on March 31, 2022[160] - Employee costs totaled HK828.6 million in FY2023, up from HK722.8millioninFY2022,reflectinganincreaseinrestaurantandofficestaff[122]−Thebasicsalaryforemployeesisgenerallybasedontheirworkexperienceandprevailingmarketsalarylevels[160]FutureOutlook−ThecompanyexpectsbusinessrecoveryinHongKongtocontinue,drivenbytheliftingofborderrestrictionsandsocialdistancingmeasures[48]−Thecompanyplanstoclosetwounder−performingrestaurantsinMainlandChinainQ1FY2024toenhanceefficiency[37]−ThecompanyisenhancingoperationalefficiencyandservicequalityinSingaporeandJapanwhileadaptingitsbrandtolocalmarkets[50]−Thecompanyhasshownagilityinoperationsdespiteeconomicchallenges,positioningitselfforfuturebusinessopportunities[63]Miscellaneous−Thefirst−everCharitableNFT,"SouperHero,"waslaunchedduringFY2023,achievinga10−timesover−subscriptionduringthewhitelistingstage[45]−Thecompanydoesnothaveacurrencyhedgingpolicy,andfluctuationsinRenminbi,Singaporedollars,andJapaneseYenagainstHongKongdollarsmayaffectresults[136]−Thecompanywillcontinuetomonitorforeigncurrencyexposureandtakeappropriatemeasurestominimizeriskswhennecessary[136]−AsofMarch31,2023,capitalcommitmentsamountedtoHK722.8 million in FY2022, reflecting an increase in restaurant and office staff[122] - The basic salary for employees is generally based on their work experience and prevailing market salary levels[160] Future Outlook - The company expects business recovery in Hong Kong to continue, driven by the lifting of border restrictions and social distancing measures[48] - The company plans to close two under-performing restaurants in Mainland China in Q1 FY2024 to enhance efficiency[37] - The company is enhancing operational efficiency and service quality in Singapore and Japan while adapting its brand to local markets[50] - The company has shown agility in operations despite economic challenges, positioning itself for future business opportunities[63] Miscellaneous - The first-ever Charitable NFT, "Souper Hero," was launched during FY2023, achieving a 10-times over-subscription during the whitelisting stage[45] - The company does not have a currency hedging policy, and fluctuations in Renminbi, Singapore dollars, and Japanese Yen against Hong Kong dollars may affect results[136] - The company will continue to monitor foreign currency exposure and take appropriate measures to minimize risks when necessary[136] - As of March 31, 2023, capital commitments amounted to HK2.3 million, a decrease of 72.6% from HK$8.4 million on March 31, 2022[160]