大家乐集团(00341) - 2021 - 中期财报

Financial Performance - The Group's revenue for the first half of FY2020/21 decreased by 24.3% to HK$3,225.7 million compared to the same period last year[9]. - Profit attributable to shareholders slightly increased by 8.4% to HK$162.3 million during the period[9]. - For the six months ended 30 September 2020, the Group recorded revenue of HK$3,225.7 million, a decrease of 24.3% compared to HK$4,263.8 million in 2019[15]. - The gross profit margin decreased to 4.3% for the six months ended 30 September 2020, down from 11.7% in 2019, primarily due to weak market sentiment and social distancing measures[18]. - Profit attributable to equity holders rose by 8.4% to HK$162.3 million for the six months ended September 30, 2020 (2019: HK$149.7 million) due to government monetary relief[25]. - Basic earnings per share increased by 8.5% to HK28.0 cents (2019: HK25.8 cents) for the same period[25]. - Total comprehensive income for the period reached HK$169,515,000, compared to HK$107,864,000 in the previous year, representing a 56.9% increase[77]. - Profit for the period increased to HK$162,818, up from HK$150,344 in the previous year, reflecting a growth of 8.3%[75]. Government Support and Subsidies - The Group received HK$322.5 million in subsidies under the Employment Support Scheme, accounting for approximately 31.6% of the Group's staff cost in Hong Kong during the period[9]. - The Group received pandemic relief and subsidies totaling HK$338.9 million from the Hong Kong and PRC governments, which included HK$322.5 million under the Employment Support Scheme[12]. - Government grants received during the six months ended September 30, 2020, amounted to HK$338,864, primarily due to COVID-19 subsidies[170]. Cost Management - Administrative expenses decreased by 12.4% to HK$227.6 million during the six months ended 30 September 2020, down from HK$259.9 million in 2019, due to stringent cost control[19]. - The Group implemented various cost-saving measures, particularly negotiating rental concessions with landlords to reduce rental expenses[13]. - Stringent cost control measures were implemented, including negotiating rental concessions and simplifying the menu to maintain food costs[29]. - Employee benefit expenses (excluding share-based compensation) totaled HK$1,127,387, down 18.1% from HK$1,376,599 in 2019[173]. - The cost of raw materials and packing was HK$960.931 million, a decrease of 19.2% from HK$1,188.573 million in the previous year[173]. Business Operations and Strategy - Business operations in Mainland China began to recover to pre-pandemic levels by the end of the reporting period[10]. - The Group plans to expedite network expansion in the Greater Bay Area during the latter half of the financial year[10]. - The Group shifted focus to takeaway and delivery services in response to changing consumer preferences during the COVID-19 pandemic[28]. - The Group's marketing focus shifted to promote takeaway and delivery services, including new dinner takeaway promotions targeting individuals and families[32]. - The Group is focusing on speed, takeaway/delivery services, and value-focused promotions to adapt to changing consumer preferences[40]. - The Group's business in Mainland China experienced a V-shaped rebound, returning to pre-pandemic levels by the end of the review period[13]. Shareholder Information - An interim dividend of HK10 cents was declared for the six months ended 30 September 2020, down from HK19 cents in 2019[10]. - The Group declared an interim dividend of HK10 cents per share for the six months ended September 30, 2020, down from HK19 cents in 2019[42]. - The total number of shares to be awarded under the share award scheme shall not exceed 5% of the total number of issued shares of the Company[44]. - A total of 17,467,695 shares have been awarded under the Share Award Scheme, representing approximately 2.98% of the total number of issued shares as of 30 September 2020[49]. - The maximum number of shares that can be granted to individual selected participants under the Share Award Scheme is capped at 1% of the total issued shares[47]. Financial Position - As of 30 September 2020, the Group had cash of approximately HK$1,200.4 million and available banking facilities of HK$1,289.1 million[37]. - The Group's current ratio improved to 1.1 as of 30 September 2020, up from 0.5 on 31 March 2020[37]. - Total assets as of 30 September 2020 increased to HK$6,643,059, up from HK$6,220,758 as of 31 March 2020, representing a growth of approximately 6.8%[71]. - Total liabilities as of 30 September 2020 were HK$3,809,081, an increase from HK$3,549,446 as of 31 March 2020, marking a rise of approximately 7.3%[73]. - Cash and cash equivalents increased to HK$1,200,397 from HK$345,072, representing a significant rise of 247.5%[73]. Employee and Management Compensation - Salaries and allowances for key management increased to HK$19,170,000 in 2020 from HK$17,664,000 in 2019, a rise of 8.5%[197]. - Discretionary bonuses for key management decreased significantly to HK$759,000 in 2020 from HK$6,670,000 in 2019, reflecting a decline of 88.6%[197]. - Share-based compensation expenses for key management were HK$2,049,000 in 2020, down from HK$2,453,000 in 2019, a decrease of 16.5%[197]. Corporate Governance - The Company complied with all code provisions of the Corporate Governance Code during the six months ended 30 September 2020[62]. - The Audit Committee reviewed the unaudited interim results of the Group for the six months ended 30 September 2020[64]. - All Directors confirmed compliance with the Model Code regarding securities transactions during the six months ended 30 September 2020[63].