Financial Performance - For the six months ended June 30, 2020, the company reported a revenue of SGD 4,951 thousand, a decrease of 47.7% compared to SGD 9,457 thousand in the same period of 2019[12]. - The gross profit for the same period was SGD 3,546 thousand, down 46.4% from SGD 6,888 thousand year-on-year[12]. - The company incurred a loss before tax of SGD 2,199 thousand, compared to a loss of SGD 1,280 thousand in the previous year, representing an increase in loss of 71.7%[12]. - The net loss for the period was SGD 2,227 thousand, which is a 70.5% increase from SGD 1,306 thousand in the same period of 2019[12]. - The basic loss per share for the period was SGD 0.42, compared to SGD 0.26 in the previous year, indicating a worsening of the company's financial performance[12]. - The company’s total comprehensive loss for the period was SGD 2,114,000, compared to a total comprehensive loss of SGD 1,325,000 in the same period last year, reflecting a worsening of 59.5%[17]. - The company’s accumulated losses increased to SGD 10,076,000 as of June 30, 2020, compared to SGD 4,977,000 at the beginning of the year[17]. - Revenue decreased by approximately SGD 4.51 million or 47.6% to about SGD 4.95 million for the six months ended June 30, 2020, compared to SGD 9.46 million for the same period in 2019, primarily due to the impact of COVID-19[65]. - The group recorded a loss of approximately SGD 2.23 million for the six months ended June 30, 2020, compared to a loss of SGD 1.31 million for the same period in 2019, primarily due to the impact of COVID-19[74]. Revenue Breakdown - Revenue from the restaurant business for the six months ended June 30, 2020, was SGD 3,632,000, a decrease of 48.6% compared to SGD 7,039,000 for the same period in 2019[29]. - Revenue from the artisanal bakery segment for the six months ended June 30, 2020, was SGD 1,309,000, down 45.6% from SGD 2,402,000 in the same period of 2019[29]. - Total revenue for the six months ended June 30, 2020, was SGD 4,951,000, down 48.4% from SGD 9,457,000 in the same period of 2019[29]. Expenses and Cost Management - Employee benefits expenses totaled SGD 2,814 thousand for the six months, significantly higher than SGD 3,512 thousand in the same period of 2019[12]. - The company reported total other expenses of SGD 1,200 thousand, down from SGD 1,457 thousand year-on-year, indicating some cost control measures[12]. - Cost of goods sold decreased by approximately SGD 1.16 million or 45.3% to about SGD 1.41 million for the six months ended June 30, 2020, consistent with the revenue decline[66]. - Employee benefits expenses decreased by approximately SGD 0.70 million or 19.9% to about SGD 2.81 million for the six months ended June 30, 2020, due to cost-saving measures[68]. - Rental and related expenses decreased significantly by approximately SGD 0.69 million or 81.9% to about SGD 0.15 million for the six months ended June 30, 2020, due to reduced contributions from short-term leases[71]. Assets and Liabilities - Total non-current assets decreased to SGD 13,309,000 as of June 30, 2020, down from SGD 14,491,000 as of December 31, 2019, representing a decline of approximately 8.2%[14]. - Current assets totaled SGD 5,106,000, a decrease of 28.7% from SGD 7,165,000 in the previous year[14]. - Total liabilities amounted to SGD 12,443,000, slightly down from SGD 12,570,000 as of December 31, 2019[14]. - The company's equity decreased to SGD 5,972,000 from SGD 8,086,000, a decline of approximately 26.1%[14]. - Cash and cash equivalents decreased to SGD 2,242,000 from SGD 3,328,000, reflecting a reduction of 32.6%[19]. - Trade receivables net amount decreased to SGD 80,000 from SGD 114,000, a reduction of approximately 30%[47]. - Other payables decreased significantly to SGD 419,000 from SGD 1,710,000, a decline of approximately 75%[52]. - Total borrowings decreased to SGD 1,118,000 from SGD 1,512,000, a reduction of about 26%[55]. Cash Flow - Operating cash flow increased to SGD 559,000, up from SGD 476,000 in the previous year, marking a growth of 17.4%[19]. - Net cash flow from operating activities was approximately SGD 0.56 million for the six months ended June 30, 2020, primarily due to adjustments for depreciation of right-of-use assets[76]. - The company had a net cash outflow from financing activities of SGD 2,003,000, compared to SGD 1,868,000 in the previous year, indicating an increase in cash used for financing[19]. - Financing activities used net cash flow of SGD 2.00 million, primarily for repaying bank loans and lease liabilities[77]. Strategic Initiatives - The company is focusing on strategic initiatives to improve operational efficiency and explore new market opportunities moving forward[12]. - The company plans to extend the property handover date for a new restaurant under the "Central Hong Kong Café" brand to the fourth quarter of 2020 due to COVID-19 restrictions[91]. - The company has utilized funds for upgrading IT systems in restaurants and retail stores[106]. - The company has completed renovations for new offices and has begun operations in the new headquarters as of January 2020[100]. Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2020, consistent with the same period in 2019[41]. - The board expresses gratitude to shareholders, business partners, and customers for their ongoing support[129]. - The management team and employees are acknowledged for their efforts and contributions during the reporting period[129]. Employee Information - The company employed 222 full-time employees in Singapore and Malaysia as of June 30, 2020, down from 290 as of December 31, 2019[85].
聚利宝控股(08527) - 2020 - 中期财报