Financial Performance - Revenue for the six months ended September 30, 2021, reached approximately HKD 121.4 million, an increase of about HKD 38.1 million or 45.7% compared to HKD 83.3 million for the same period in 2020[7] - Net profit for the same period was approximately HKD 3.6 million, up by about HKD 0.8 million or 28.6% from HKD 2.8 million in the prior year[7] - Gross profit for the six months was HKD 78.3 million, representing a gross margin of approximately 64.5%, compared to HKD 52.9 million in the previous year[8] - The company reported a basic and diluted earnings per share of HKD 0.4 for the six months ended September 30, 2021, compared to HKD 0.3 for the same period in 2020[8] - Total revenue from restaurant operations for the six months ended September 30, 2021, was HKD 121,378,000, up from HKD 82,875,000 in the same period of 2020, reflecting a growth of 46.3%[23] - The total comprehensive income for the six months ended September 30, 2021, was HKD 3,559,000, compared to HKD 2,845,000 for the same period in 2020, representing an increase of 25.0%[12] - Profit for the six months ended September 30, 2021, was approximately HKD 3.6 million, an increase of approximately HKD 0.8 million from approximately HKD 2.8 million for the same period in 2020[72] Assets and Liabilities - Current assets as of September 30, 2021, totaled HKD 71.6 million, an increase from HKD 64.4 million as of March 31, 2021[9] - Total liabilities decreased to HKD 52.7 million as of September 30, 2021, from HKD 59.2 million as of March 31, 2021[9] - Cash and bank balances increased to HKD 57.1 million as of September 30, 2021, compared to HKD 46.4 million as of March 31, 2021[9] - Inventory levels rose to HKD 0.9 million as of September 30, 2021, from HKD 0.6 million as of March 31, 2021[9] - Trade payables increased to HKD 20.0 million as of September 30, 2021, compared to HKD 11.9 million as of March 31, 2021[9] - The company's total equity increased to HKD 51,197,000 as of September 30, 2021, compared to HKD 47,638,000 as of March 31, 2021, marking an increase of 7.9%[12] - Trade receivables as of September 30, 2021, totaled 907 thousand HKD, an increase from 700 thousand HKD as of March 31, 2021[37] - Lease liabilities increased to HKD 34,023,000 as of September 30, 2021, from HKD 23,011,000 as of March 31, 2021, reflecting a rise of 47.9%[11] Cash Flow - For the six months ended September 30, 2021, the company reported a net cash inflow from operating activities of HKD 37,312,000, compared to HKD 19,718,000 for the same period in 2020, representing an increase of 89.3%[14] - The net cash and cash equivalents at the end of the period were HKD 57,060,000, up from HKD 51,543,000 at the end of the same period in 2020, indicating a growth of 10.0%[14] - The company incurred a net cash outflow from investing activities of HKD 7,353,000 for the six months ended September 30, 2021, compared to HKD 2,144,000 in the same period of 2020[14] Operational Highlights - The company did not declare an interim dividend for the period, consistent with the previous year[7] - The company opened two new restaurants under the "犇殿" brand, contributing to the revenue growth[50] - The company has decided not to renew the lease for the "Mr. Steak" restaurant in Hong Kong, which is set to expire in September 2021[53] - The company has renewed the lease for the "Hana" restaurant for three years starting from August 20, 2021, ensuring continued cash flow[51] - The company engaged in significant related party transactions, purchasing food from a related company for approximately HKD 19.8 million during the six months ended September 30, 2021, compared to HKD 14.7 million in the previous year[47] Expenses - Employee costs rose by approximately HKD 15.2 million or 84.9% from approximately HKD 17.9 million to approximately HKD 33.1 million, attributed to the operational commencement of TF and OC restaurants[62] - Depreciation of property, plant, and equipment increased from approximately HKD 16.6 million to approximately HKD 20.0 million, an increase of approximately HKD 3.4 million, due to the commencement of operations of TF and OC[64] - Rental and related expenses decreased by approximately HKD 1.7 million or 20.0% from approximately HKD 8.5 million to approximately HKD 6.8 million, primarily due to changes in lease arrangements[65] - Fuel and utility expenses increased by approximately HKD 0.9 million or 56.3% from approximately HKD 1.6 million to approximately HKD 2.5 million, driven by increased customer numbers and the commencement of operations of TF and OC[66] - Administrative expenses increased by approximately HKD 1.4 million or 15.6% from approximately HKD 9.0 million to approximately HKD 10.4 million, mainly due to increased operational activities[68] Strategic Developments - The company did not report any new product launches or significant market expansions during the period[23] - There were no acquisitions or major strategic changes mentioned in the report for the period ended September 30, 2021[23] - The company benefited from the Hong Kong government's consumption voucher scheme, which provided HKD 5,000 in vouchers to eligible residents, stimulating consumer spending[50] - The company expects to fully utilize the remaining net proceeds for restaurant network expansion by March 31, 2023[73] Shareholder Information - As of September 30, 2021, Future More holds 750,000,000 shares, representing 75% of the issued shares of MS Concept Limited, which totals 1,000,000,000 shares[30] - The ownership structure of Future More includes Mr. Kwan with 14%, Ms. Yip with 18%, Ms. Kwan with 18%, Mr. Kwan Tai Wing with 25%, and Ms. Kwan Ching with 25%[30] - No stock options have been granted under the stock option plan since its adoption on March 23, 2018, and there are no unexercised stock options as of September 30, 2021[92] - The company has maintained the public float required by GEM listing rules as of the report date[97] Compliance and Governance - The audit committee, composed of independent non-executive directors, reviewed the unaudited consolidated results for the six months ended September 30, 2021, ensuring compliance with applicable accounting standards[102] - No significant events affecting the group have occurred since September 30, 2021, up to the report date[103]
MS CONCEPT(08447) - 2022 - 中期财报