大快活集团(00052) - 2020 - 年度财报

Financial Performance - Revenue for the year was HK$3,030.2 million, an increase of 2.0% from HK$2,970.5 million in 2019[21] - Profit for the year dropped by 66.2% from HK$179.9 million to HK$60.9 million[22] - Basic earnings per share decreased by 66.4% to HK$47.03 cents, down from HK$140.00 cents in 2019[27] - The adoption of HKFRS 16 had a negative impact of HK$24.3 million on profit, resulting in an adjusted profit of approximately HK$85.2 million, a decrease of 52.7%[26] - The Group's net assets and profit attributable to equity shareholders showed a significant decline compared to previous years[35] - The Group's revenue trend over the past five years indicates fluctuations, with a peak in 2019[32] - Profit attributable to equity shareholders decreased by 66.2% to HK$60.9 million, down from HK$179.9 million in 2019[45] - Gross profit margin fell to 9.2%, down from 12.9% in the previous year[45] - The total equity of the Group decreased to HK$720.8 million from HK$777.7 million in 2019[104] Dividends - A final dividend of HK$50.0 cents per share was proposed, with a total dividend for the year of HK$73.0 cents and a payout ratio of approximately 155%[28] - The Board recommended a final dividend of HK$50.0 cents per share, down from HK$81.0 cents in 2019, resulting in a total annual dividend of HK$73.0 cents, compared to HK$118.0 cents in the previous year[46] - The proposed final dividend for the year ended March 31, 2020, is HKD 0.50 per share, compared to HKD 0.81 per share in 2019[180] - The Company’s Directors proposed the final dividend has not been recognized as a liability at the end of the reporting period[192] Impact of COVID-19 - The COVID-19 outbreak severely impacted the Hong Kong economy, adversely affecting the Group's revenue and store operations[23] - The Group's financial performance was negatively influenced by weakened customer sentiment and social distancing measures[24] - Fairwood's same-store sales growth rate recorded a negative 3% due to the impact of COVID-19 and related restrictions[70] - The Group launched the "Click and Collect" digital order platform at half of its outlets in Hong Kong to enhance operational efficiency and support social distancing measures during the COVID-19 outbreak[86] - Enhanced staff training focused on customer service and hygiene protocols in response to COVID-19 challenges[50] Store Operations and Expansion - The Group opened 16 new stores during the year, including 13 in Hong Kong and 3 in Mainland China, bringing the total to 160 stores in Hong Kong and 12 in Mainland China[80] - Fairwood plans to open around five new stores in Southern China in the coming year, focusing on smaller restaurants catering to delivery preferences[77] - Revenue in Mainland China declined significantly, resulting in a negative same-store sales growth rate of 9% in local currency during the last quarter[76] Product Development and Marketing - The Group launched new products, including Omnipork, a plant-based pork alternative, as part of its "Tasty and Green" series[54] - A "Weekly Surprises" campaign was introduced, offering diverse meal promotions to enhance customer value and satisfaction[56] - Specialty restaurants like ASAP and Taiwan Bowl performed well, achieving solid growth and positive customer feedback[75] - Fairwood has partnered with major food delivery service providers in Mainland China to boost sales amid changing consumer preferences[77] Community Engagement and Social Responsibility - The Group continues to engage with the community, distributing 49,000 "Happy Care for Seniors" cards to provide dining discounts and benefits[81] - The "Care for Seniors" card program saw an increase in card discounts to HK$6 off each order, with an additional 49,000 cards distributed in the community[84] - Charitable donations made by the Group during the year amounted to HKD 20,000, a decrease from HKD 155,000 in 2019[181] Leadership and Governance - The new CEO, Mr. Francis Lo, is expected to bring innovative ideas to the Group, following the retirement of the previous CEO, Mr. Raymond Chan, who served for over 25 years[95][96] - The company has a strong leadership team with members holding advanced degrees in business and finance, contributing to over 35 years of experience in finance and management[151][153] - The company has maintained a focus on corporate governance and accountability through its structured board committees[153] - The leadership team includes members with backgrounds in economics, finance, and business administration, enhancing strategic decision-making capabilities[145][151] Financial Position and Assets - As of March 31, 2020, the Group had total assets of HK$2.7089 billion, an increase from HK$1.2758 billion in 2019, primarily due to the recognition of right-of-use assets amounting to HK$1.4336 billion[101] - The current ratio decreased to 0.7 from 1.6 in 2019, attributed to the recognition of current lease liabilities of HK$479.9 million under current liabilities[101] - Cash and cash equivalents as of March 31, 2020, were HK$511 million, a decrease of 1.7% from HK$519.9 million in 2019[101] - The Group's net current liabilities were HK$247.0 million, a shift from net current assets of HK$248.3 million in 2019, resulting in a current ratio of 0.7 compared to 1.6 in the previous year[104] Employee Management - The Group's employee costs increased to approximately HK$1,019.9 million from HK$963.2 million in 2019, with a total workforce of about 5,800 employees[134] - The Group has enhanced training programs for employees, which has improved staff retention rates and prepared them for career advancement[65] - The Group's initiatives to improve staff satisfaction include recognition programs and extensive training opportunities[63] Compliance and Regulations - The Company was not aware of any non-compliance with applicable laws and regulations that significantly impacted the Group during the reporting period[184] - The Company maintained compliance with the Securities and Futures Ordinance regarding the interests of Directors and chief executives in shares and debentures as of March 31, 2020[200]