Financial Performance - The company's revenue for the fiscal year ended April 30, 2024, was HKD 2,687,036,000, a decrease of 4.9% compared to HKD 2,825,994,000 in the previous year, primarily due to a high base effect from increased demand for pandemic-related supplies in the prior year [28]. - Retail sales revenue for the year reached HKD 2,679,417,000, a decrease of 4.3% from HKD 2,798,792,000 in the previous year, accounting for 99.7% of total revenue [40]. - Revenue from Hong Kong was HKD 2,330,164,000, down from HKD 2,485,838,000, primarily due to a high base effect from increased demand for anti-epidemic supplies during COVID-19 [41]. - Macau's revenue was HKD 44,976,000, a decrease from HKD 50,878,000, but the business remained profitable despite challenges similar to those in Hong Kong [42]. - Operating profit decreased to HKD 137,422,000 from HKD 225,454,000, reflecting a decline of 39.0% [49]. - Net profit for the year was HKD 99,797,000, down from HKD 181,875,000, representing a decrease of 45.0% [49]. - Basic earnings per share decreased to 14.0 HK cents from 25.3 HK cents, a decline of 44.5% [49]. - The company reported a profit attributable to owners of the company of HKD 101,070,000 for the year ended April 30, 2024, a decrease of 44.4% compared to HKD 181,571,000 in 2023 [128]. - Total comprehensive income for the year ending April 30, 2024, is HKD 102,743,000, compared to HKD 176,834,000 for the previous year, indicating a decrease of about 42% [175]. Dividends - The company proposed a final dividend of HKD 0.056 per share, totaling HKD 0.112 per share for the year (2022/23: HKD 0.220) [2]. - The total interim dividend declared was HKD 40,305,000, with an interim dividend per share of HKD 5.6, compared to HKD 12.0 in 2023 [110]. - The company declared a dividend of HKD 112,228,000 for 2024, with a proposed final dividend of HKD 40,305,000, reflecting a decrease from HKD 172,540,000 in 2023 [131]. Operational Changes - The total number of directly managed stores decreased to 376 from 379, with a net decrease of 3 stores [13]. - The company is focusing on adjusting its product mix based on market demand to maintain competitiveness in the Hong Kong market [16]. - The company plans to expand its store network in response to housing and population growth opportunities over the next five to ten years [37]. - The company is focusing on expanding its presence in Singapore by establishing stores in high-density residential areas, which is expected to improve brand awareness and customer loyalty [44]. - The company plans to open new stores in high-potential areas, focusing on markets in Hong Kong, Singapore, and Macau [166]. Cost Management - Operating costs increased due to rising human resource costs and the end of rent reductions for retail tenants, but the company has implemented strict cost control measures [167]. - The company is actively seeking new revenue sources while strictly controlling costs to maintain sustainable profitability and stable dividend levels [1]. - The company is focusing on optimizing supply chain management to ensure product quality and supply stability, which is crucial for maintaining competitiveness in the market [1]. E-commerce and Technology - The company aims to enhance its e-commerce operations by deploying the Easy Buy platform in some Singapore stores [18]. - The company has launched a new self-operated online shopping platform "JHCeshop" in November 2023, integrating online and offline shopping experiences [1]. - The company plans to implement in-store automation technologies, including self-checkout machines and digital price tags, to enhance operational efficiency and customer experience [45]. - The company has introduced a one-hour "online store pickup" service, enhancing customer convenience and flexibility while leveraging store inventory [1]. Market Strategy - The company is committed to improving marketing and supply chain operational efficiency to meet changing consumer demands and market conditions [1]. - The company aims to enhance brand loyalty and product diversification by developing new private label products and expanding into different categories [1]. - The company emphasized a customer-centric approach to improve product offerings and store performance, aiming for continuous innovation [71]. Financial Position - The company maintained a stable current ratio of 1.5 as of April 30, 2024 (2023: 1.5) [10]. - Total borrowings increased to HKD 22,820,000 (2023: HKD 13,381,000) [10]. - The company reported a significant increase in inventory, rising to HKD 402,599 thousand from HKD 360,188 thousand in the previous year, indicating an 11.5% increase [76]. - Total assets of the company decreased to HKD 1,742,182 thousand from HKD 1,777,438 thousand, marking a 2.0% decrease year-over-year [77]. - Total liabilities as of April 30, 2024, decreased to HKD 848,474,000 from HKD 873,035,000 in 2023, representing a decline of about 2.8% [123]. Human Resources - As of April 30, 2024, the company employed approximately 2,127 staff, a slight decrease from 2,146 in the previous year, with total employee costs amounting to HKD 436,746,000 [38]. - The company aims to maintain a stable workforce by providing professional development and career advancement opportunities [73]. - The company plans to address labor shortages through an input labor program and increased automation in stores [71]. Management and Governance - The management team will regularly review its composition to ensure adaptability to business development needs, aiming for greater agility in a dynamic business environment [48]. - The board believes that the dual role of the chairperson and CEO is in the best interest of the company for effective management and business development [152]. - The board of directors confirmed compliance with the standard code of conduct for securities trading throughout the fiscal year ending April 30, 2024 [153].
国际家居零售(01373) - 2024 - 年度业绩