Financial Performance - Revenue for the first quarter was SGD 4.897 million, a decrease of 1.3% from SGD 4.962 million in the same period last year[13] - Gross profit for the first quarter was SGD 3.582 million, down from SGD 3.818 million, reflecting a decline of 6.2% year-on-year[13] - The company reported a loss before tax of SGD 0.308 million, an improvement from a loss of SGD 0.390 million in the previous year[13] - The net loss for the period was SGD 0.321 million, compared to a net loss of SGD 0.438 million in the same quarter last year, indicating a 26.7% reduction in losses[13] - Basic loss per share for the first quarter was SGD (0.07), an improvement from SGD (0.11) in the same period last year[13] Expenses - Employee benefits expenses increased to SGD 1.656 million from SGD 1.543 million, representing a rise of 7.4% year-on-year[13] - The cost of goods sold was SGD 1.315 million, up from SGD 1.144 million, reflecting a 14.9% increase compared to the previous year[13] - Marketing and advertising expenses were SGD 0.020 million, slightly up from SGD 0.018 million, indicating a 11.1% increase[13] - Other expenses increased from approximately SGD 0.34 million to SGD 0.67 million, primarily due to increased costs associated with the listing[53] Income and Gains - Other income and gains increased to SGD 0.106 million from SGD 0.064 million, showing a growth of 65.6% year-on-year[13] - The company received government grants amounting to SGD 85,000 during the reporting period, an increase from SGD 63,000 in the previous year[30] Tax and Dividends - The estimated tax expense for the period was SGD 13,000, down from SGD 48,000 in the previous year, indicating a reduction of 72.9%[38] - The company did not recommend any interim dividend for the three months ended March 31, 2019, consistent with the previous year[39] Business Operations - The company continues to focus on its core businesses in Singapore and Malaysia, with no new product launches or significant market expansions reported during this period[21] - The restaurant business generated revenue of SGD 3,694,000, while the bakery segment contributed SGD 1,151,000 from sales of bread and pastry products[30] - The company plans to open a new dim sum café under the Black Society brand in Singapore, with the lease signed at Orchard Gateway Shopping Mall[47] - The company is currently negotiating rental terms for a new restaurant under the Central Hong Kong Café brand[66] - The company is actively seeking suitable locations to open new franchise operations for the "Greyhound Café" brand[68] Corporate Governance - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[88] - The company has implemented a code of conduct for securities trading by directors, ensuring compliance with the GEM Listing Rules[87] - The audit committee, consisting of independent non-executive directors, reviewed the unaudited first-quarter results for the three months ended March 31, 2019[92] Shareholder Information - As of March 31, 2019, the company’s executive director and CEO, Ms. Liu, holds a beneficial interest in 282,000,000 shares, representing 56.4% of the company[75] - Mr. Cai, a non-executive director, controls a corporation that holds 93,000,000 shares, accounting for 18.6% of the company[76] - The weighted average number of ordinary shares increased to 490,625,000 in 2019 from 387,500,000 in 2018, reflecting a 26.5% increase[41] - As of March 31, 2019, there are no interests held by directors or major shareholders in any competing businesses[90] Financial Reporting - The financial statements were prepared in accordance with International Financial Reporting Standards, ensuring compliance and accuracy in reporting[23] - The company adopted a share option scheme on April 4, 2018, with no options having lapsed, granted, exercised, or cancelled by March 31, 2019[86] - There were no purchases, sales, or redemptions of the company's listed securities during the three months ending March 31, 2019[85] - The company has not entered into any related party transactions during the three months ending March 31, 2019[84]
聚利宝控股(08527) - 2019 Q1 - 季度财报