Financial Performance - For the three months ended September 30, 2019, the company reported revenue of SGD 5,608,000, an increase from SGD 4,715,000 in the same period of 2018, representing a growth of 18.9%[14] - The gross profit for the same period was SGD 4,161,000, compared to SGD 3,425,000 in 2018, indicating a gross margin improvement[14] - The company incurred a loss before tax of SGD 386,000 for the three months ended September 30, 2019, a slight improvement from a loss of SGD 448,000 in the previous year[14] - The net loss for the period was SGD 399,000, compared to a net loss of SGD 481,000 in the same quarter of 2018, reflecting a reduction in losses[14] - For the nine months ended September 30, 2019, total revenue reached SGD 15,065,000, up from SGD 14,311,000 in the same period of 2018, marking a growth of 5.3%[14] - The company reported a net loss of SGD 1,705,000 for the nine months ended September 30, 2019, compared to a loss of SGD 1,927,000 in the previous year, indicating a narrowing of losses[14] - The company’s total comprehensive income for the period was a loss of SGD 1,668,000 for the nine months ended September 30, 2019, compared to a loss of SGD 1,742,000 in the previous year[19] - The group reported a net loss of SGD 6,682,000 as of September 30, 2019, compared to a loss of SGD 4,388,000 in the same period of 2018, indicating a deterioration in financial performance[19] Revenue and Income - The company recognized other income and gains of SGD 218,000 for the nine months ended September 30, 2019, compared to SGD 105,000 in the same period of 2018, showing a significant increase[14] - Revenue for the restaurant and bakery business reached SGD 11,298,000 for the nine months ended September 30, 2019, an increase of 6.4% from SGD 10,614,000 in the same period of 2018[28] - Total revenue for the group, including other income, was SGD 15,065,000 for the nine months ended September 30, 2019, compared to SGD 14,311,000 in the previous year, reflecting a growth of 5.3%[28] - Interest income increased significantly to SGD 97,000 for the nine months ended September 30, 2019, compared to SGD 7,000 in the same period of 2018[28] Expenses - Employee benefits expenses increased to SGD 5,478,000 for the nine months ended September 30, 2019, compared to SGD 4,711,000 in 2018, reflecting a rise of 16.3%[14] - Cost of goods sold increased by approximately SGD 0.43 million or 12.1% to approximately SGD 4.02 million for the nine months ended September 30, 2019, from approximately SGD 3.58 million for the same period in 2018[42] - Rental and related expenses significantly decreased by approximately SGD 2.31 million or 66.2% to approximately SGD 1.18 million for the nine months ended September 30, 2019, from approximately SGD 3.49 million for the same period in 2018[46] Strategic Initiatives - The company continues to focus on market expansion and product development as part of its strategic initiatives moving forward[14] - The company plans to continue expanding its restaurant business in Singapore and its hand-crafted bakery chain in Malaysia to enhance brand awareness and service quality[37] - The company opened two new hand-crafted dim sum cafes under the "MASA by Black Society" brand in June and July 2019, which are expected to have a positive impact on the company[40] Shareholder Information - As of September 30, 2019, Liu Wan-Zhen held a beneficial interest in 282 million shares, representing 56.4% of the company[61] - Cai Da, through a controlled corporation, held 93 million shares, representing 18.6% of the company[62] - As of September 30, 2019, major shareholders held a total of 93,000,000 shares, representing 18.6% of the company's equity[66] Corporate Governance - The company is committed to high standards of corporate governance, with the roles of chairman and CEO currently held by the same individual[74] - The company has maintained compliance with corporate governance codes and principles during the reporting period[74] - The company has not established any arrangements for directors or executives to acquire securities of the company or its affiliates[65] Other Information - The company adopted IFRS 16 from January 1, 2019, which may impact future financial reporting and lease accounting[25] - The economic growth in Singapore slowed to 0.1% in Q3 2019, marking the slowest growth in a decade, which may impact the overall industry[38] - The company has no significant events affecting its operations since the reporting period[34] - The company did not engage in any related party transactions during the nine months ending September 30, 2019[70] - No significant investments, acquisitions, or disposals were made by the group during the nine months ending September 30, 2019[80] - The board does not recommend any interim dividend for the nine months ending September 30, 2019, consistent with the previous year[79] - The company has not granted any share options since the adoption of the share option scheme on April 4, 2018, until September 30, 2019[72] - The audit committee reviewed the unaudited third-quarter results for the nine months ending September 30, 2019[78] - There were no purchases, sales, or redemptions of the company's listed securities from the listing date until September 30, 2019[71] - The actual usage of the net proceeds as of September 30, 2019, was HKD 12.9 million, leaving HKD 10.8 million unutilized[53] - The company plans to use approximately HKD 8.4 million from the net proceeds to open a new restaurant under the "MASA by Black Society" brand instead of the originally planned "Greyhound Café"[57] - The renovation of Black Society (OG) was completed on June 22, 2019, and Black Society (GWC) commenced operations on July 22, 2019[58] - The company confirmed a new office location, with renovation work set to begin in October 2019[58] - The group experienced a slowdown in expansion due to a downturn in the Singapore restaurant market, resulting in deferred usage of approximately HKD 10.8 million of the net proceeds[56]
聚利宝控股(08527) - 2019 Q3 - 季度财报