谭仔国际(02217) - 2024 - 中期财报

Revenue Performance - Revenue for 1H2024 increased by 9.9% to HK$1,387.4 million compared to HK$1,261.7 million in 1H2023[39] - In 1H2024, the Group's revenue increased by 10.0% year-on-year to HK$1,387.4 million, with a net increase of 14 restaurants, bringing the total to 222 restaurants[45] - Revenue from Hong Kong increased by 8.2$1,296.1 million in 1H2024, driven by a 2.9% increase in comparable restaurant revenue[64] - The Group opened 7 new restaurants in Mainland China during 1H2024, leading to a 58.6% increase in revenue from this market compared to 1H2023[70] - Revenue from the Group's Japan operations grew by 22.2% year-on-year in 1H2024, supported by the addition of delivery channels and improved operational standards[102] - Revenue from Mainland China and overseas markets surged by 44.1% to HK$91.3 million in 1H2024 from HK$63.3 million in 1H2023[197] Profitability - Profit excluding government subsidies for 1H2024 surged by 153.1% year-on-year to HK$81.4 million, while the profit for the period was HK$81.6 million[62] - Operating profit for Hong Kong increased by 12.9% to HK$262.4 million, while Mainland China and overseas markets reported a loss of HK$5.3 million, a decrease of 68.3%[153] - Total operating profit rose by 19.3% to HK$257.0 million compared to HK$215.5 million in the previous year[153] - Operating profit margin for the Group's Hong Kong business improved to 20.2% in 1H2024, up from 19.4% in 1H2023, reflecting enhanced operational efficiency and effective cost control[97] - The operating profit margin improved from 17.1% in 1H2023 to 18.5% in 1H2024, attributed to reduced costs of consumables and food ingredients[153] Expenses and Costs - Income tax expense rose from HK$18.6 million in 1H2023 to HK$20.0 million in 1H2024 due to an increase in taxable profits[7] - Other expenses increased by 21.1% from HK$31.9 million in 1H2023 to HK$38.6 million in 1H2024, primarily due to headquarters and office expansion[14] - Finance costs increased by 22.2% from HK$9.0 million in the first half of 2023 to HK$11.0 million in the first half of 2024 due to increased interest on lease liabilities[132] - The overall staff costs increased by 7.8% from HK$405.2 million in 1H2023 to HK$436.9 million in 1H2024, with staff costs as a percentage of revenue decreasing from 32.1% to 31.5%[186] - Cost of food and beverages consumed rose by 8.5% from HK$302.1 million in 1H2023 to HK$327.8 million in 1H2024, representing 23.9% of revenue in 1H2023 and 23.6% in 1H2024[184] Dividends and Shareholder Returns - An interim dividend of HK3.0 cents per share was declared for 1H2024, representing a payout ratio of approximately 49.2%[28] - The interim dividend for 1H2024 was declared at HK$0.03 per share, with a payout ratio of approximately 49.2$39,137 in 1H2024 from HK$38,581 in 1H2023[181] Expansion and Market Strategy - The company plans to expand its restaurant network through joint ventures and franchising arrangements in selected overseas markets[1] - A joint venture has been established with ST Group Food Industries Holdings Limited to enter the Australian market, aiming for lower initial investment and reduced risks[49] - The Group is implementing a multi-branding strategy in Hong Kong, including a franchise agreement with Toridoll Holdings Corporation for the "Marugame Seimen" brand[52] - The Group plans to slow down expansion in Mainland China, focusing on Guangzhou and second-tier cities in the Greater Bay Area, while enhancing brand competitiveness through localization[148] - The Group's entry into the Australian market will utilize a joint venture and franchising model to reduce capital input and risk, aiming for rapid expansion and market penetration[158] Sustainability and Corporate Responsibility - The Group's commitment to sustainability and generating stable returns for stakeholders remains a priority[54] - The company has made significant progress in sustainability by implementing a new takeaway utensil policy to phase out disposable plastic utensils starting October 2023[159] Market Conditions and Challenges - Comparable restaurant revenue in Mainland China experienced a slight decline due to challenging market conditions in Shenzhen, leading to reduced customer spending[98] - The Group's business in Singapore saw a total revenue increase of 38.8$768.6 million as of March 31, 2023, to HK$858.3 million as of September 30, 2023, reflecting more tenancy agreements[9] - Lease liabilities increased from HK$787.8 million to HK$881.6 million, primarily due to new lease agreements for restaurants in the first half of 2024[111] - Trade and other receivables remained stable at HK$215.1 million as of March 31, 2023, and HK$213.8 million as of September 30, 2023[11] - Cash and cash equivalents decreased from HK$1,375.7 million to HK$1,339.0 million as of September 30, 2023[113]