Financial Performance - The company reported a loss of HKD 8,133,000 for the year ended March 31, 2024, compared to a loss of HKD 9,650,000 for the previous year, indicating a reduction in losses by approximately 15.7%[22]. - The group reported a pre-tax loss of HKD 16,096,000 for the year ended March 31, 2024, compared to HKD 21,860,000 for the previous year, indicating a reduction of approximately 26.5%[44]. - The group incurred a pre-tax loss of HKD 8.135 million, an improvement from a loss of HKD 9.778 million in the previous year, indicating a reduction in losses by about 16.8%[158]. - The total comprehensive expenses for the year amounted to HKD 8,070,000, a decrease from HKD 9,595,000 in the previous year, representing a reduction of approximately 15.9%[163]. - The loss attributable to the owners of the company was HKD 8,133,000, compared to a loss of HKD 9,650,000 in the prior year, indicating an improvement of about 15.7%[163]. Revenue and Income - Revenue from restaurant operations in Hong Kong was HKD 34,941,000, down from HKD 38,786,000 in the previous year, representing a decrease of about 10%[35]. - Revenue for the year ended March 31, 2024, was HKD 38,288,000, a decrease of approximately 9.4% from HKD 42,273,000 for the year ended March 31, 2023[39]. - Other income decreased significantly to HKD 230 thousand from HKD 1.755 million, reflecting a decline of approximately 87.9%[158]. - Other income decreased by approximately 86.9% from HKD 1.8 million to HKD 0.2 million, primarily due to the absence of government subsidies in the fiscal year 2024[64]. - The revenue for the year ended March 31, 2024, is derived from the fair value of services provided and goods sold, net of discounts[170]. Assets and Liabilities - The total assets of the company as of March 31, 2024, amounted to HKD 11,835,000, compared to HKD 8,073,000 in the previous year, indicating an increase of approximately 46%[22]. - As of March 31, 2024, total assets increased to HKD 20.353 million from HKD 9.779 million, representing a growth of approximately 108.1%[159]. - The group’s total liabilities decreased from HKD 6,903,000 in 2023 to HKD 6,448,000 in 2024, a reduction of approximately 6.6%[53]. - The company recorded lease liabilities of approximately HKD 2.8 million as of March 31, 2024, down from HKD 14.3 million in the previous year[90]. - Non-current assets as of March 31, 2024, amounted to HKD 14,685,000, an increase from HKD 13,823,000 as of March 31, 2023[39]. Employee Costs and Workforce - Employee costs reduced by approximately 26.4% from about HKD 21.9 million for the year ended March 31, 2023, to about HKD 16.1 million for the year ended March 31, 2024, representing about 42.0% of revenue compared to 51.7% in the previous year[86]. - The total employee cost for the year ending March 31, 2024, was approximately HKD 16.1 million, a decrease from HKD 21.9 million in 2023, reflecting a reduction in workforce from 114 to 42 employees[128]. - Employee costs decreased to HKD 16.096 million from HKD 21.860 million, reflecting a reduction of about 26.5%[158]. Operational Changes - The company closed four restaurants during the year ended March 31, 2024, due to lease expirations and changes in customer spending patterns[83]. - The group operated four ramen restaurants and one Hong Kong-style restaurant as of March 31, 2024[61]. - The group emphasized the importance of recruiting skilled personnel in a competitive labor market to maintain service quality and brand reputation[66]. Future Plans and Commitments - The company plans to expand its restaurant network with a budget of HKD 17 million, of which HKD 8.416 million has been utilized as of March 31, 2024[100]. - The group plans to open new restaurants in 2024, aiming to expand its network and explore new revenue sources[145]. - The company has capital commitments of approximately HKD 4.3 million for property and equipment as of March 31, 2024, compared to none in the previous year[98]. - The group will continue to review its business objectives and modify plans based on changing market conditions to pursue growth[144]. Dividends and Shareholder Returns - The company has no proposed dividends for the year ended March 31, 2024, consistent with the previous year[21]. - The board does not recommend the distribution of a final dividend for the year ended March 31, 2024[147]. - The company is actively seeking potential business opportunities or partnerships to expand revenue sources and enhance shareholder returns[131]. Financial Ratios and Performance Metrics - The current ratio improved to approximately 1.2 times as of March 31, 2024, compared to 0.7 times in 2023, indicating better liquidity[118]. - The basic and diluted loss per share was HKD 7.53, a significant decrease from HKD 17.92 in the previous year, reflecting a reduction of approximately 58.0%[163]. Market Conditions and Challenges - The restaurant business in Hong Kong continued to recover in 2024, supported by the revival of tourism and government measures, although changing consumer patterns may pose challenges[130]. - The group’s cash and cash equivalents were significantly impacted by the absence of government support programs in the fiscal year 2024[64].
赏之味(08096) - 2024 - 年度业绩