Financial Performance - Revenue for the six months ended September 30, 2020, was HK$1,359,410,000, representing an increase of 16.4% compared to HK$1,167,795,000 for the same period in 2019[3] - Gross profit for the same period was HK$368,019,000, up from HK$318,194,000, indicating a gross profit margin improvement[3] - Profit for the period was HK$57,608,000, a decrease of 4.8% from HK$60,430,000 in the previous year[4] - Total comprehensive income for the period was HK$84,102,000, significantly higher than HK$18,968,000 in the same period last year[4] - Earnings per share for the period were 10.19 HK cents, compared to 10.82 HK cents in the previous year[4] - The Group's profit before taxation for the period was HK$102,630,000, compared to HK$77,313,000 in the previous year, marking an increase of approximately 32.8%[43] - The comprehensive income for the period was reported at HK$61,724,000, compared to a loss of HK$40,835,000 in the previous period[20] - The Group reported a segment profit of HK$105,305,000 for the six months ended 30 September 2020, up from HK$80,744,000 in the same period of 2019, indicating an increase of approximately 30.4%[43] Assets and Liabilities - Non-current assets increased to HK$711,414,000 as of September 30, 2020, from HK$634,854,000 as of March 31, 2020[6] - Current assets rose to HK$2,038,893,000, up from HK$1,878,767,000, driven by an increase in bank balances and cash[6] - Total assets less current liabilities rose to HK$2,420,974,000, up from HK$2,302,914,000, indicating an increase of about 5.1%[8] - Non-current liabilities increased significantly, with deferred tax liabilities rising to HK$9,421,000 from HK$2,864,000, and lease liabilities growing to HK$307,321,000 from HK$205,773,000[8] - The company's net assets stood at HK$2,093,241,000, a slight increase from HK$2,083,286,000, representing a growth of approximately 0.5%[8] - Total equity attributable to owners of the Company reached HK$2,094,050,000, compared to HK$2,083,611,000, marking an increase of about 0.5%[8] Cash Flow and Dividends - For the six months ended September 30, 2020, net cash from operating activities was HK$272,377,000, a decrease from HK$293,731,000 in the same period of 2019[30] - Net cash used in investing activities was HK$18,858,000, compared to a net cash outflow of HK$11,516,000 in the previous year[32] - Dividends paid decreased to HK$74,147,000 from HK$122,627,000 year-on-year, indicating a reduction in cash outflow[32] - The company proposed an interim dividend of HK$15,970,000 for 2020, reflecting a commitment to return value to shareholders[21] Inventory and Receivables - Inventories decreased to HK$704,033,000 from HK$798,693,000, reflecting improved inventory management[6] - Trade and other receivables increased significantly to HK$219,677,000 from HK$112,755,000, indicating potential growth in sales[6] - Trade receivables aged 0 to 30 days increased to HK$182,462,000 from HK$61,106,000, representing a significant rise of 198%[79] - Total trade and other payables as of September 30, 2020, amounted to HK$198,575,000, up from HK$86,774,000 as of March 31, 2020, indicating an increase of 129%[79] Market Conditions and Impact - The outbreak of COVID-19 negatively impacted the Group's operations, leading to a decrease in revenue in Hong Kong and Macau[36] - The retail market in the PRC rebounded rapidly, especially in the luxury sector, resulting in higher revenue for the Group during the interim period[37] - The Group's financial performance was affected by travel restrictions, leading to a notable drop in the number of tourists visiting Hong Kong[36] - The ongoing COVID-19 pandemic continues to pose risks to the Group's business performance, despite recovery in the PRC market and gradual improvement in Hong Kong[129] Share Options and Capital Structure - The 2003 Share Option Scheme was adopted on November 3, 2003, and is valid for ten years[87] - As of September 30, 2020, there were 28,560,000 share options outstanding, down from 31,560,000 on April 1, 2019, reflecting a forfeiture of 3,000,000 options during the period[90] - No options were exercised under the 2003 Share Option Scheme during the six months ended September 30, 2020, and 2019[91] - The company adopted a new share option scheme on November 3, 2013, following the expiration of the 2003 Share Option Scheme[114] Governance and Compliance - The Audit Committee has reviewed the consolidated financial statements for the six months ended September 30, 2020, ensuring compliance with accounting principles and internal controls[142] - The Board of Directors consists of 4 executive directors and 3 independent non-executive directors as of the interim report date[153] - The company has confirmed compliance with the standard code of conduct for securities transactions by all directors for the six months ending September 30, 2020[153]
东方表行集团(00398) - 2021 - 中期财报