Financial Performance - The company reported a consolidated revenue of $150 million for the fiscal year, representing a 10% increase compared to the previous year[11]. - Net profit for the year was $30 million, which is a 15% increase year-over-year[11]. - The Group's revenue for FY2018 was approximately S$58.6 million, representing an increase of approximately S$3.1 million or 5.5% compared to FY2017 revenue of approximately S$55.5 million[29]. - Gross profit for FY2018 was approximately S$14.3 million, an increase of approximately S$0.7 million or 5.1% from the previous year's gross profit of approximately S$13.6 million[29]. - The Group's profit for FY2018 was approximately S$2.1 million, a decrease of approximately S$3.8 million or 64.2% compared to the profit of approximately S$6.0 million in FY2017, primarily due to one-off listing expenses[30]. - The total gross profit for the year ended 31 December 2018 was S$14.3 million, with a gross profit margin of 24.4%, compared to S$13.6 million and a margin of 24.5% for the year ended 31 December 2017[87]. - The Group's overall gross profit margin remained stable at approximately 24.4% to 24.5% for the two years ended 31 December 2018[99]. - Profit for the year decreased by approximately S$3.8 million or 64.2% from approximately S$6.0 million for the year ended 31 December 2017 to approximately S$2.1 million for the year ended 31 December 2018[103]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[11]. - The Group aims to expand its market position in the snacks industry by launching tortilla chips and increasing production capacity for nuts and potato chips[29]. - Demand for snack products with less sugar and artificial ingredients is expected to grow, particularly in Singapore, Malaysia, and the People's Republic of China[29]. - The Group's strategy includes leveraging branding and production capabilities to enhance growth in the snacks market[89]. - The Group anticipates that the popularity of tortilla chips will continue to grow, particularly among urban millennials, contributing positively to the savory snacks segment[93]. Operational Efficiency and Cost Management - The company aims to improve operational efficiency, targeting a 5% reduction in costs over the next year[11]. - Research and development expenses increased by 30%, focusing on innovative technologies and product enhancements[11]. - The Group's cost of sales increased by approximately S$2.4 million or 5.7% from approximately S$41.9 million for the year ended 31 December 2017 to approximately S$44.3 million for the year ended 31 December 2018[99]. - Selling and distribution expenses increased by approximately S$0.4 million or 16.1% from approximately S$2.2 million for the year ended 31 December 2017 to approximately S$2.6 million for the year ended 31 December 2018[101]. - Administrative expenses increased by approximately S$0.8 million or approximately 18.5% from approximately S$4.4 million for the year ended 31 December 2017 to approximately S$5.2 million for the year ended 31 December 2018[101]. Shareholder Returns and Dividends - The proposed final dividend is 0.2 Hong Kong cents per share, representing approximately 16.3% of the profit for the year[31]. - The Group has recommended a final dividend of 0.2 Hong Kong cents per ordinary share for the year ended December 31, 2018, totaling approximately HK$2.0 million (equivalent to approximately S$0.3 million)[117]. - The final dividend payment is subject to shareholder approval at the annual general meeting scheduled for 3 June 2019[117]. - The Group has adopted a dividend policy to allow shareholders to participate in profits while retaining adequate reserves for future growth[154]. Corporate Governance and Management - The Group's management team includes family members, indicating a strong familial influence in leadership[126]. - The Group's executive directors have over 30 years of experience in the snacks industry, focusing on operations, sales, and marketing[124]. - The Company has a corporate secretary with extensive experience in corporate finance, including IPOs, mergers, and acquisitions[140]. - Each executive director is appointed under a service agreement for a term of three years from the Listing Date, terminable by either party with three months' written notice[193]. - Independent non-executive directors are appointed for a term of three years from the Listing Date, terminable with one month's written notice[193]. Environmental and Social Responsibility - Environmental, social, and governance initiatives are being prioritized, with a commitment to reduce carbon emissions by 15% by 2025[11]. - The Group complied with all applicable environmental laws and regulations during the year ended December 31, 2018, with no material claims or penalties reported[158]. Risks and Challenges - The Group's financial condition and results may be affected by various risks and uncertainties, including seasonal fluctuations in revenue[161]. - The Group's reliance on third-party suppliers poses risks to its production and business operations, particularly if there are disruptions in supply[167]. - The Group's profitability may be adversely affected by the quality and price of materials, which are dependent on harvest outputs[166]. - The Group faces risks related to the availability and pricing of materials, which could materially impact its financial performance[167].
TS WONDERS(01767) - 2018 - 年度财报