Financial Performance - The group reported a total revenue of HKD 98,798,000 for the three months ended June 30, 2019, representing an increase of 58.5% compared to HKD 62,329,000 for the same period in 2018[6]. - The profit attributable to owners of the company for the same period was HKD 10,923,000, compared to HKD 2,703,000 in the previous year, marking a significant increase of 304.5%[5]. - Basic earnings per share increased to HKD 5 cents from HKD 0.7 cents, reflecting strong growth in profitability[5]. - The group reported a pre-tax profit of HKD 13,066,000, significantly higher than HKD 3,874,000 for the same period last year, representing an increase of 236.5%[6]. - The total comprehensive income for the period was HKD 10,923,000, compared to HKD 2,703,000 in the previous year, indicating a growth of 304.5%[6]. - The company recorded revenue of HKD 98,798,000 for the three months ended June 30, 2019, representing a 58.5% increase compared to the same period in 2018[37]. - Net profit attributable to the company’s owners for the three months ended June 30, 2019, was approximately HKD 10,923,000, an increase of 304.1% from HKD 2,703,000 in the same period last year[53]. Cost and Expenses - The group incurred costs of materials and consumables amounting to HKD 27,327,000, up from HKD 18,419,000, indicating a rise of 48.5%[6]. - Employee costs rose to HKD 27,918,000 from HKD 19,261,000, an increase of 45.2% year-on-year[6]. - Depreciation expenses surged to HKD 16,107,000, compared to HKD 2,055,000 in the prior year, reflecting an increase of 682.5%[6]. - Material and consumable costs increased by 48.4% to HKD 27,327,000, but as a percentage of revenue, it decreased from 29.6% to 27.7%[41][43]. - Employee costs rose by 44.9% to HKD 27,918,000, with the percentage of revenue decreasing from 30.9% to 28.3%[41][43]. - Depreciation expenses surged by 683.8% to HKD 16,107,000, primarily due to the adoption of HKFRS 16 "Leases"[41][46]. - Other expenses increased by approximately 47.3% to HKD 5,316,000, with a slight decrease in percentage of revenue to 5.4% from 5.8% year-on-year[51]. Restaurant Operations and Expansion - The company continues to focus on expanding its restaurant operations in Hong Kong, leveraging its strong financial performance to support growth initiatives[12]. - The company opened four new restaurants during the quarter, increasing the total number of restaurants from 22 to 26[29]. - The company plans to open its first award-winning licensed Japanese ramen brand "Togano" restaurant in August 2019 at K11 MUSEA, Victoria Dockside, Tsim Sha Tsui[30]. - The company experienced a significant increase in the number of new restaurants, which helped to diversify its revenue sources and maintain competitiveness[34]. - The company is actively negotiating new potential locations for business expansion, in addition to two new restaurants already established[57]. Customer Metrics - The number of customers served across restaurants increased by 219,531 or 49.6% year-on-year, totaling 661,832 customers for the same three-month period[34]. - Average spending per customer rose from HKD 140.9 to HKD 149.3, with a higher average of HKD 158.8 when excluding snack and dessert businesses[34]. Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency in reporting[12]. - The company applied HKFRS 16 for the first time on April 1, 2019, which resulted in the recognition of right-of-use assets and corresponding lease liabilities[21]. - The company has established an audit committee in compliance with GEM listing rules, responsible for reviewing and monitoring the financial reporting process and internal control procedures[72]. - The audit committee held a meeting on August 8, 2019, to review the unaudited condensed consolidated financial statements for the three months ended June 30, 2019, and found them compliant with applicable accounting standards, laws, and disclosure requirements[72]. - The board of directors confirmed compliance with trading standards for the three months ended June 30, 2019[69]. Financial Position - Total borrowings as of June 30, 2019, were approximately HKD 3,000,000, a decrease of 9.4% compared to March 31, 2019[54]. - Cash and cash equivalents were approximately HKD 73,000,000, indicating a net cash position as of June 30, 2019[54]. - As of March 31, 2019, the company had irrevocable operating lease commitments of HKD 197,212,000, which are defined under HKFRS 16[21]. - The average incremental borrowing rate applied for lease liabilities was 3.7%[22]. Dividends - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2019[25].
尝高美集团(08371) - 2020 Q1 - 季度财报