Financial Performance - For the fiscal year ending March 31, 2024, the group's revenue was HKD 775,573,000, a decrease of 13.3% from HKD 894,702,000 in 2023[2] - Gross profit for the same period was HKD 240,785,000, down 10.8% from HKD 269,941,000 in the previous year[2] - Operating profit increased to HKD 86,740,000, up 4.0% from HKD 82,779,000 in 2023[2] - The net profit for the year was HKD 85,191,000, representing a 7.2% increase compared to HKD 79,452,000 in 2023[2] - The total comprehensive income for the year was HKD 82,904,000, compared to HKD 78,435,000 in the previous year, reflecting a growth of 5.9%[4] - Basic and diluted earnings per share increased to HKD 9.37 from HKD 8.73, marking a rise of 7.3%[4] Revenue Breakdown - Total revenue for the year ended March 31, 2024, was HKD 775,573,000, a decrease of 13.3% from HKD 894,702,000 for the year ended March 31, 2023[20] - Revenue from gold jewelry, jewelry, watches, and gifts retail was HKD 733,364,000, down 12.1% from HKD 834,659,000 in the previous year[20] - Revenue from bullion trading was HKD 39,863,000, a decline of 31.4% compared to HKD 58,220,000 in the prior year[20] - Retail revenue decreased by 13.4%, from HKD 892.9 million to HKD 773.2 million, due to a sluggish jewelry market and the closure of certain retail stores[44] Expenses and Liabilities - The cost of goods sold for the year was HKD 533,645,000, down 14.5% from HKD 623,824,000 in the previous year[25] - The pre-tax profit for the year was significantly impacted by a decrease in revenue and increased operating expenses, with total operating expenses amounting to HKD 17,444,000 for the year ended March 31, 2024[23] - Current liabilities were HKD 147,758,000, significantly higher than HKD 74,948,000 in the previous year[6] - Trade payables increased to HKD 17,732 million in 2024 from HKD 9,690 million in 2023, reflecting a significant rise in liabilities[39] - Administrative expenses increased to HKD 52.4 million from HKD 50.5 million, primarily due to higher employee salaries and bonuses[43] Assets and Cash Flow - Total assets as of March 31, 2024, amounted to HKD 917,316,000, an increase from HKD 854,184,000 in 2023[6] - The company's cash and cash equivalents decreased to HKD 231,231,000 from HKD 301,060,000, a decline of 23.2%[6] - Trade receivables increased significantly to HKD 8,047,000 in 2024 from HKD 1,070,000 in 2023, showing a substantial growth[37] - The company reported a significant decrease in other receivables from HKD 35,969,000 in 2023 to zero in 2024, indicating a complete write-off or collection of these receivables[37] Dividends - The proposed final dividend for the year ended March 31, 2024, is HKD 2.6 per share, up from HKD 2.0 per share in 2023, while the special dividend has been set to zero, down from HKD 8.0 per share in 2023[28] - The company reported a total of HKD 94,568,000 in dividends declared during the year, compared to HKD 18,209,000 in the previous year, marking a significant increase[27] - The board proposed a final dividend of HKD 0.026 per share for the year ended March 31, 2024, compared to HKD 0.020 per share in the previous year[41] - The company has not established a dividend policy or predetermined dividend rate, with the board considering various factors for future dividend announcements[51] Operational Developments - The group primarily operates in the retail of gold jewelry, watches, and gifts, with a focus on expanding its market presence[8] - The company opened a new watch store and a new jewelry store in December 2023, focusing on exclusive brands to enhance product diversification and customer experience[45] - Same-store sales growth was recorded at 1% despite the overall revenue decline, attributed to cost reductions and improved gross margins[47] - The company plans to expand its jewelry and watch brand portfolio and improve operational efficiency while maintaining strict cost and inventory controls in the upcoming year[48] Accounting and Audit - The company is currently evaluating the impact of new accounting standards and revisions, expecting no significant effect on the consolidated financial statements[13] - The audit committee reviewed the accounting policies and practices, risk management systems, and financial reporting matters for the year ending March 31, 2024[53] - The auditor, Hong Kong Lixin Dehao CPA Limited, confirmed that the preliminary performance announcement figures align with the audited consolidated financial statements for the year ending March 31, 2024[54] - The auditor's reports for both financial years were unqualified and did not include any emphasis of matter[55]
景福集团(00280) - 2024 - 年度业绩