Financial Performance - Revenue for the fiscal year 2019 reached HKD 307,712,000, representing a 43% increase from HKD 215,175,000 in 2018[6] - Profit before tax for 2019 was HKD 31,674,000, up from HKD 6,910,000 in 2018, indicating a significant improvement in profitability[6] - The net profit for the year 2019 was HKD 27,252,000, compared to HKD 2,771,000 in 2018, reflecting a growth of 882%[6] - The company reported a revenue of approximately HKD 307.7 million for the year ending March 31, 2019, representing a growth of 43.0% compared to the previous year[72] - The revenue growth was attributed to the full-year operations of several restaurants, including New Da Beef and Say Cheese, as well as new openings and acquisitions[74] - The net profit attributable to the owners for the year ended March 31, 2019, was approximately HKD 27,252,000, an increase of about 38.9% compared to the adjusted net profit of HKD 19,618,000 from the previous year[82] Asset Management - Total assets increased to HKD 132,984,000 in 2019 from HKD 129,885,000 in 2018, showing stability in asset management[6] - The company reported a total equity of HKD 102,087,000 in 2019, slightly down from HKD 103,854,000 in 2018[6] - Total borrowings as of March 31, 2019, were approximately HKD 3,300,000, a decrease of 26.7% from the previous year[82] - The group had cash and cash equivalents of approximately HKD 55,300,000 as of March 31, 2019, with no significant foreign exchange risk anticipated[83] - The current ratio of the group was 2.6 times, indicating a net cash position[84] Market Expansion - The company has plans for market expansion, focusing on increasing its restaurant footprint in Hong Kong[9] - The group has expanded its restaurant network from 15 to 22 locations from March 31, 2018, to March 31, 2019, representing a 46.67% increase in the number of restaurants[38] - The group opened four new restaurants in April 2019, including a new 牛氣 restaurant in Tseung Kwan O and two new Rakuraku Ramen locations, indicating ongoing market expansion[43] - The company plans to open new restaurants in 2019, including locations in Tung Chung and Tsuen Wan, with expected seating capacities of 120[44] - The company is expanding its market presence by opening 10 new locations in key urban areas over the next year[101] Cost Management - The group reported that despite rising costs in raw materials, labor, and rent, it managed to maintain profitability above industry levels through various cost-saving measures[30] - The cost of materials and supplies increased by 43.5%, while employee costs rose by 37.1%, reflecting the overall revenue growth[75] - Employee costs as a percentage of revenue decreased by 1.3%, indicating improved efficiency in staffing[76] - The company aims to reduce operational costs by 8% through improved supply chain management[105] Employee Engagement and Training - The group has invested significantly in employee training and customer service initiatives, which contributed to winning the "Quality Customer Service Award 2018" from MTR Mall[31] - The group has implemented a "Employee Reward Day" program to enhance service levels, demonstrating a commitment to employee engagement and customer satisfaction[31] - Employee training programs have been enhanced, with a budget increase of 25% to improve service quality[104] - Employee compensation is determined based on individual performance, job nature, and responsibilities, with training and various benefits provided[198] Environmental Impact - The company reported a total carbon dioxide emission of 3,244,000 kg, indicating its environmental impact[16] - The company utilized 4,017,000 kWh of electricity, 89,000 cubic meters of gas, and 4,902,000 MJ of energy in the reporting period[13] Shareholder Information - The company plans to pay a final cash dividend of HKD 0.015 per share, with a payout ratio of 42.6% based on estimated profits attributable to shareholders of approximately HKD 27,252,000[89] - The company reported a cash dividend of HKD 0.015 per share for the fiscal year ending March 31, 2019, compared to HKD 0.022 per share for the previous year[115] - As of March 31, 2019, the company's distributable reserves amounted to HKD 34,061,000, an increase from HKD 26,819,000 in 2018[117] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the fiscal year[165] - The board of directors consists of five members, including the executive director and CEO, with a commitment to high ethical standards[174] - The company has implemented a board diversity policy considering various factors such as gender, age, and professional experience[181] - The company encourages a balanced work-life environment to maximize employee potential[164] Strategic Acquisitions - The acquisition of a 50% stake in Ocean Limited for approximately HKD 1,203,000, with a significant portion settled through assets from Fiat Caffé, reflects strategic growth through partnerships[45] - The company acquired three Parkview restaurants for a total consideration of HKD 5,500,000, completed on October 31, 2018[47] Customer Base - The company served a total of 2,091,499 customers in the fiscal year ending March 31, 2019, an increase of 661,973 customers or 46.3% compared to the previous year[55] - The top five customers accounted for less than 30% of the company's revenue during the year, indicating a diversified customer base[156] Risk Management - The financial risk management objectives and policies are outlined in the financial statements, indicating a structured approach to managing potential risks[114] - The company has faced potential risks and uncertainties, which are discussed in the financial statements[114]
尝高美集团(08371) - 2019 - 年度财报