维他奶国际(00345) - 2021 - 中期财报

Financial Performance - Revenue for the first six months of Fiscal Year 2020/2021 decreased by 6% to HK$4,410 million compared to HK$4,684 million in the same period last year[12] - Profit attributable to equity shareholders increased by 26% to HK$672 million, up from HK$533 million in the previous year[12] - Basic earnings per share rose by 26% to 63.1 HK cents, compared to 50.2 HK cents in the prior year[12] - EBITDA increased by 27% to HK$1,152 million, compared to HK$909 million in the previous year[12] - Profit from operations increased by 29% from the FY2019/2020 interim period, with a 10% growth excluding government subsidies[15] - Profit before taxation increased by 28% to HK$916 million compared to HK$713 million in the same period last year[18] - Gross profit for the interim period was HK$2,410 million, down 6% from HK$2,556 million in the previous year, maintaining a gross profit margin of 55%[16] - Operating profit increased by 25% to HK$774 million, compared to HK$620 million in the previous year[24] - Total comprehensive income for the period reached HK$845,324,000, compared to HK$414,919,000 in the same period last year, indicating a significant increase of 103%[72] Assets and Equity - Total assets increased by 7% to HK$6,866 million, up from HK$6,410 million[13] - Total equity attributable to equity shareholders rose by 17% to HK$3,645 million, compared to HK$3,128 million last year[13] - Cash and bank deposits as of September 30, 2020, amounted to HK$648 million, down from HK$848 million as of March 31, 2020[20] - The Group's borrowings decreased to HK$283 million from HK$485 million as of March 31, 2020[20] - The gearing ratio decreased to 8% from 16% as of March 31, 2020[20] - Total equity increased to HK$3,955,240,000 from HK$3,418,104,000, reflecting a growth of 16%[76] Operating Expenses - Total operating expenses decreased by 17% to HK$1,534 million, with marketing, selling, and distribution expenses down 22% to HK$1,006 million[17] - Marketing, sales, and distribution expenses reduced by 22% to HK$1,006 million, compared to HK$1,298 million in the previous interim period[19] - Staff costs decreased slightly to HK$69,824,000 in 2020 from HK$71,414,000 in 2019, indicating cost management efforts[118] Market Performance - Mainland China revenue decreased by 2% in local currency, while Hong Kong operations saw a decline of 14% in HKD[16] - Singapore revenue grew by 10% in local currency, reflecting a recovery in the domestic tofu business[16] - Revenue in Hong Kong fell by 14% to HK$977 million compared to HK$1,137 million in 2019, primarily due to the impact of social unrest and COVID-19[28] - Revenue in Australia and New Zealand decreased by 4% to HK$237 million, affected by a three-month lockdown in Victoria State[31] Government Support and Future Outlook - The company received government support in the form of pandemic subsidies, contributing to profit growth[2] - The second half of the fiscal year will require high vigilance due to volatile pandemic conditions[3] - The Group expects solid business rebound in Mainland China in the second half of FY2020/2021, assuming no return of COVID-19[37] - The recovery of the Hong Kong operation is contingent on sustained pandemic control and the resumption of tourism and school schedules[38] - The group anticipates a strong rebound in business for the second half of the 2020/2021 fiscal year, assuming no further outbreaks of COVID-19[43] Corporate Social Responsibility - The company donated over RMB 3 million in cash and nutritious products to welfare institutions for the disabled in 13 provinces and cities in Mainland China[57] - The clean recycling program for beverage cartons has collected 114 tonnes of used cartons since its launch in October 2019[58] - The company has established 171 recycling points for clean paper packaging across 81 schools in Hong Kong, collecting 114 tons of beverage cartons since the program's launch[60] Employee Engagement and Training - The total number of full-time employees as of September 30, 2020, was 6,826 worldwide[49] - Approximately 34,886 training hours were provided to employees globally during the first six months of FY2020/2021[53] Dividends - The interim dividend per ordinary share remained stable at 3.8 HK cents[12] - The final dividend for the previous financial year was 28.4 cents per ordinary share, amounting to $302,325,000, down from $404,181,000, a decrease of 25.2%[158] - The company declared an interim dividend of HK3.8 cents per ordinary share for the six months ended September 30, 2020, consistent with the previous year[196]