Financial Performance - Revenue for the year ended March 31, 2024, increased to HKD 238,435,000, up 11.3% from HKD 214,129,000 in the previous year[3] - Gross profit rose to HKD 166,962,000, representing a 16.1% increase compared to HKD 143,840,000 in the prior year[3] - Operating loss improved to HKD 2,309,000 from a loss of HKD 21,664,000 year-over-year[3] - Net loss for the year was HKD 5,935,000, a significant reduction from HKD 14,696,000 in the previous year[3] - Total comprehensive loss for the year was HKD 2,618,000, compared to HKD 21,809,000 in the prior year[5] - The EBITDA for the group was HKD 36,160,000 in 2024, compared to HKD 26,770,000 in 2023, reflecting a significant increase of approximately 35.2%[22] - The group reported a pre-tax loss of HKD 6,031,000 for 2024, an improvement from a loss of HKD 14,771,000 in 2023[24] - Basic and diluted loss per share improved to HKD 0.03 from HKD 0.08 in the prior year[3] Assets and Liabilities - Non-current assets increased to HKD 387,193,000 from HKD 384,524,000 year-over-year[7] - Current assets decreased to HKD 184,420,000 from HKD 199,603,000 in the previous year[7] - Cash and cash equivalents decreased to HKD 103,397,000 from HKD 118,120,000 year-over-year[7] - Total equity decreased to HKD 458,413,000 from HKD 477,617,000 in the previous year[7] - The group’s total assets as of March 31, 2024, were HKD 858,559,000, slightly up from HKD 855,045,000 in 2023[21] - The group’s total liabilities increased to HKD 505,676,000 in 2024 from HKD 498,595,000 in 2023[21] Revenue Sources - The group's revenue from garment sales increased to HKD 182,623,000 in 2024, up from HKD 161,416,000 in 2023, representing a growth of approximately 13.5%[16] - Rental income from investment properties rose to HKD 8,867,000 in 2024, compared to HKD 6,339,000 in 2023, indicating a growth of approximately 40%[16] - The total sales in the apparel segment reached HKD 182,623,000, with a segment profit of HKD 25,663,000, compared to HKD 10,787,000 in 2023[34] Dividends and Shareholder Information - The group plans to distribute a final dividend of HKD 0.10 per share, consistent with the previous year’s dividend[26] - The board proposed a final dividend of HKD 0.10 per share, totaling HKD 16,586,000, consistent with the previous year[39] - The company will suspend the transfer of shares from September 24, 2024, to September 27, 2024, to determine shareholder rights for the upcoming annual general meeting[40] - The company will also suspend share transfer procedures from October 8, 2024, to October 14, 2024, to determine rights for the proposed final dividend[41] Governance and Compliance - The company has complied with the corporate governance code as of March 31, 2024, but non-executive directors do not have a specified term[42] - The company has adopted a securities trading code for directors, confirming compliance during the review period[43] - An audit committee has been established to oversee financial reporting and internal controls, consisting of three independent non-executive directors[45] - The financial statements for the year ending March 31, 2024, have been compared with the amounts reported by KPMG, showing consistency[44] Employment and Market Outlook - The total number of employees decreased to approximately 320 from 360 in the previous year[37] - The company remains optimistic about the Hong Kong market despite global challenges, expecting growth in licensing revenue from the China market[38] Share Repurchase - The company did not repurchase any shares during the year ending March 31, 2024, nor did it buy or sell any of its own shares[46] Annual Report - The annual report for the year ending March 31, 2024, will be sent to shareholders and published on the company's website[48]
YGM TRADING(00375) - 2024 - 年度业绩