2023-11-28 04:12Financial Performance - The group's revenue for the six months ended September 30, 2023, increased by 10.8% to HKD 4,318.6 million, compared to HKD 3,898.2 million in the same period last year[2]. - Shareholders' profit attributable to the company rose by 84.4% to HKD 200.6 million, up from HKD 108.7 million in the previous year, with a threefold increase when excluding government COVID-19 subsidies[2][8]. - Basic earnings per share increased by 84.0% to HKD 0.346, compared to HKD 0.188 in the previous year[11]. - Operating profit for the same period rose to HKD 267.5 million, up from HKD 156.4 million, marking a 70.9% increase[27]. - Net profit attributable to equity holders was HKD 200.6 million, compared to HKD 108.7 million in the previous year, reflecting an 84.5% increase[27]. - Total comprehensive income for the period was HKD 201,442,000, significantly up from HKD 44,174,000 in the previous year, marking an increase of about 355%[30]. - The company reported a profit of HKD 201,221,000 for the six months ended September 30, 2023, compared to HKD 108,767,000 for the same period in 2022, representing an increase of approximately 85%[29]. Revenue Breakdown - The fast food segment in Hong Kong recorded a revenue increase of 9.3% to HKD 2,565.4 million, while the institutional dining segment saw a 21.0% increase to HKD 457.6 million[4]. - Fast food business revenue increased by 9.3% to HKD 2,565.4 million for the six months ended September 30, 2023, accounting for 59.4% of total group revenue[13]. - Casual dining revenue rose by 8.5% to HKD 449.1 million, with 67 outlets in operation at the end of the period[16]. - Institutional dining revenue increased by 21.0% to HKD 457.6 million, benefiting from increased student attendance and new business opportunities[17]. - Revenue from mainland China increased by 13.2% to HKD 774.8 million, up from HKD 684.2 million in 2022[19]. - Same-store sales in the South China fast food business grew by 11%, with revenue rising 21.1% to RMB 687.7 million[19]. Cost and Expenses - Administrative expenses increased by 13.6% to HKD 257.7 million, up from HKD 226.9 million in the previous year[5]. - For the six months ended September 30, 2023, the company reported a total cost of sales and administrative expenses amounting to HKD 4,051,923, an increase of 7.2% from HKD 3,780,618 in the same period of 2022[49]. - The company's employee benefits expenses (excluding share-based payments) rose to HKD 1,405,228 for the six months ended September 30, 2023, compared to HKD 1,283,700 in the previous year, an increase of 9.5%[49]. - Total financial costs for the six months ended September 30, 2023, amounted to HKD 54,210, an increase from HKD 40,917 in the previous year, representing a rise of 32.4%[50]. Dividends and Shareholder Returns - The interim dividend declared is HKD 0.15 per share, compared to HKD 0.10 per share in the previous year[11]. - The company declared an interim dividend of HKD 0.15 per share for the six months ended September 30, 2023, compared to HKD 0.10 per share in the previous year, marking a 50% increase[57]. Store Expansion and Operations - The number of stores in Hong Kong increased to 383 from 376, and in mainland China, the number of stores rose to 160 from 153[12]. - The group opened 5 new fast food outlets, bringing the total to 172, while One Bowl maintained 47 outlets[15]. - The group opened 8 new stores during the review period and is preparing to open 11 more[19]. - The company is actively seeking strategic locations for new outlets, with plans to open 2 additional fast food locations[15]. Digital and Customer Experience - Digital channels accounted for 60% of total order volume, with ongoing optimization of the digital ordering process[19]. - The introduction of self-service kiosks and mobile ordering apps has improved customer experience and increased usage rates[15]. - The "Club 100" membership program surpassed 1.5 million members, with high active user rates contributing to increased customer visits[15]. Financial Position - The company's total assets decreased to HKD 6,498,281,000 as of September 30, 2023, down from HKD 7,175,340,000 as of March 31, 2023, reflecting a decline of approximately 9.4%[32]. - The company's total liabilities decreased to HKD 3,650,623,000 from HKD 4,383,277,000, a reduction of about 16.7%[33]. - The net current liabilities improved to HKD 461,770,000 from HKD 652,197,000, indicating a positive change of approximately 29.2%[34]. - The company’s retained earnings increased to HKD 1,620,130,000 from HKD 1,516,205,000, reflecting a growth of approximately 6.9%[32]. Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules for the six months ending September 30, 2023[64]. - The audit committee, consisting of three independent non-executive directors and two non-executive directors, has reviewed the interim unaudited results for the six months ending September 30, 2023[65]. - No purchase, sale, or redemption of the company's listed securities occurred during the six months ending September 30, 2023[66].