Revenue Growth - For the six months ended September 30, 2023, the revenue from Hong Kong increased by 8.2% year-on-year to HKD 1,296.1 million, driven by improved comparable restaurant performance since Q4 of the previous fiscal year [4]. - The Singapore market's total revenue for the first half of 2024 increased by 38.8% compared to the same period in 2023, despite a decline in comparable restaurant revenue due to labor shortages [5]. - Revenue increased by 10.0% from HKD 1,261.7 million in the first half of 2023 to HKD 1,387.4 million in the first half of 2024, primarily due to an increase in the number of operating restaurants and growth in comparable restaurant revenue in Hong Kong [24]. - Revenue for the first half of 2024 reached HKD 1,387.4 million, a 10.0% increase from HKD 1,261.7 million in the same period of 2023 [62]. - Revenue from external customers for the six months ended September 30, 2023, was HKD 1,387,369,000, an increase from HKD 1,261,721,000 in the same period last year, representing a growth of 9.9% [175]. Profitability - The operating profit for the first half of 2024 was HKD 257.0 million, representing a 19.3% increase from HKD 215.5 million in the same period of 2023 [16]. - The operating profit margin improved from 17.1% in the first half of 2023 to 18.5% in the first half of 2024, attributed to a decrease in the percentage of costs related to materials and food [17]. - The company's profit for the period was HKD 81.6 million, slightly down from HKD 82.8 million in the previous year, while profit excluding government subsidies increased by 153.1% to HKD 81.4 million [74]. - Profit for the period decreased by 1.4% to HKD 81.6 million, while profit excluding government subsidies increased by 153.1% to HKD 81.4 million [198]. Operating Performance - The operating loss in markets outside Hong Kong narrowed by 68.3% to HKD 5.3 million, attributed to improved performance in mainland China and Japan [73]. - The operating profit margin for Hong Kong operations improved from 19.4% in the first half of 2023 to 20.2% in the first half of 2024, reflecting successful business strategies and effective cost control [22]. - Comparable restaurant revenue in Hong Kong rose by 2.9% to HKD 1,096.0 million, while comparable restaurant revenue in mainland China and overseas markets decreased by 5.7% to HKD 38.1 million [35]. Expansion Plans - The company plans to continue expanding its business network in existing and overseas markets, including a joint venture with ST Group in Australia, where it holds a 49% stake [13]. - The company plans to expand into the Philippines through a franchise agreement with Suyen Corporation, leveraging their strong business network in the local market [30]. - The company is expanding into the Australian market using a joint venture and franchising model to reduce capital investment and risk [50]. - The company is exploring franchising opportunities in Australia and the Philippines while promoting brand diversification in Hong Kong [198]. Cost Management - The cost of food and beverages rose by 8.5% to HKD 327.8 million in the first half of 2024, accounting for 23.6% of revenue [63]. - Employee costs increased by 7.8% to HKD 436.9 million, representing 31.5% of revenue in the first half of 2024 [63]. - The company's financing costs increased by 22.2% from HKD 9.0 million in the first half of 2023 to HKD 11.0 million in the first half of 2024 due to the expansion of the restaurant network [46]. - The company's electricity and water expenses rose by 27.3% to HKD 45.2 million, accounting for 3.3% of revenue in the first half of 2024 [43]. Dividend Declaration - The company declared an interim dividend of HKD 0.03 per share for the first half of 2024, with a payout ratio of approximately 49.2% [20]. - The board declared an interim dividend of HKD 0.03 per share, compared to no dividend in the first half of 2023 [198]. Strategic Initiatives - The company is enhancing localization efforts in mainland China, including launching food that caters to local tastes and conducting marketing activities on popular social media platforms [10]. - The company is focusing on developing new product varieties for its top brands, "Tam Jai Yunnan Noodles" and "Sam Go," to attract more customers and enhance customer relationship management [14]. - The company is focusing on enhancing brand awareness and adapting to local markets in mainland China, Singapore, and Japan as part of its second development phase [51]. Financial Position - Cash and cash equivalents amounted to HKD 1,339.0 million as of September 30, 2023, down from HKD 1,375.7 million as of March 31, 2023 [105]. - Non-current assets totaled HKD 1,225,531 as of September 30, 2023, an increase from HKD 1,161,080 [141]. - The company's net asset value decreased to HKD 1,481,535,000 from HKD 1,541,848,000, indicating a decline of about 3.9% [142]. - Total assets less current liabilities were HKD 2,045,287, slightly up from HKD 2,044,473 [141].
谭仔国际(02217) - 2024 - 中期业绩