Financial Performance - Revenue for the third quarter of 2020 was SGD 14,186 thousand, an increase from SGD 12,251 thousand in the same period last year, representing a growth of 15.8%[8] - Gross profit for the third quarter was SGD 3,414 thousand, compared to SGD 3,464 thousand in the previous year, showing a slight decrease of 1.4%[10] - The net profit after tax for the third quarter was SGD 913 thousand, a decrease from SGD 1,272 thousand in the same quarter last year, reflecting a decline of 28.2%[10] - Total comprehensive income for the nine months ended December 31, 2020, was SGD 3,225 thousand, up from SGD 2,422 thousand in the previous year, indicating an increase of 33.2%[14] - The company reported a basic and diluted earnings per share of SGD 0.39 for the third quarter, compared to SGD 0.21 in the same period last year, marking an increase of 85.7%[10] - Total revenue for the nine months ended December 31, 2020, was 37,764 thousand Singapore dollars, an increase from 35,063 thousand Singapore dollars for the same period in 2019, representing a growth of approximately 7.7%[32] - The pre-tax profit rose from approximately SGD 3.8 million for the nine months ended December 31, 2019, to approximately SGD 4.6 million for the nine months ended December 31, 2020, mainly due to government support during the ongoing pandemic[58] Segment Performance - For the nine months ended December 31, 2020, total revenue from fresh eggs was SGD 9,795,000 and from processed eggs was SGD 4,391,000, totaling SGD 14,186,000[25] - The segment performance for fresh eggs generated a profit of SGD 2,410,000, while processed eggs generated SGD 1,594,000, leading to a total segment profit of SGD 4,004,000[25] - Revenue from fresh eggs accounted for about 70% of total revenue, increasing from approximately SGD 22.2 million to approximately SGD 26.4 million for the nine months ended December 31, 2020, driven by an expanded customer base and increased sales from supermarkets[63] - Revenue from processed eggs decreased from approximately SGD 12.9 million to approximately SGD 11.3 million for the nine months ended December 31, 2020, due to a decline in sales to food and beverage customers during the lockdown[64] Expenses and Costs - Administrative expenses for the third quarter were SGD 984 thousand, a decrease from SGD 1,036 thousand in the previous year, representing a reduction of 5%[10] - The company incurred total costs of SGD 8,817,000 for purchases, with additional expenses including employee benefits of SGD 809,000 and depreciation of SGD 416,000[25] - Employee benefits for the nine months ended December 31, 2020, amounted to 2,782 thousand Singapore dollars, up from 2,300 thousand Singapore dollars in the same period of 2019, which is an increase of 20.9%[35] - The cost of goods purchased for the nine months ended December 31, 2020, was 23,039 thousand Singapore dollars, compared to 20,316 thousand Singapore dollars in the previous year, representing an increase of 13.4%[35] - The total expenses for the nine months ended December 31, 2020, were 15,070 thousand Singapore dollars, an increase from 12,202 thousand Singapore dollars in the previous year, representing a growth of 23.5%[42] Other Income and Financial Adjustments - The company recognized other income of SGD 353,000, contributing positively to the overall financial performance[25] - Other income for the nine months ended December 31, 2020, totaled 1,576 thousand Singapore dollars, significantly higher than 612 thousand Singapore dollars for the same period in 2019, reflecting an increase of 157.9%[38] - Other income increased by approximately SGD 964,000 to approximately SGD 1.576 million for the nine months ended December 31, 2020, mainly due to COVID-19 employment support subsidies received from the Singapore government[68] - Biological assets fair value changes resulted in a profit of approximately SGD 0.2 million for the nine months ended December 31, 2020, a change of approximately SGD 1.0 million from a loss of approximately SGD 0.8 million[72] Company Strategy and Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[8] - The company has identified potential acquisition targets to enhance its operational capabilities and market reach[8] - The company plans to complete the quail farm expansion by the end of 2021 and is seeking additional resources to fund this expansion[59] - The company is exploring other related businesses in different regions to diversify its risks associated with the Singapore egg market[62] Shareholding and Corporate Structure - As of December 31, 2020, Radiant Grand International Limited holds 294,800,000 shares, representing 58.96% of the company's shares[86] - Elite Ocean Ventures Limited owns 80,200,000 shares, accounting for 16.04% of the company's shares[89] - The company's ultimate holding company is Radiant Grand International Limited, registered in the British Virgin Islands[16] Compliance and Reporting - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ending December 31, 2020, confirming compliance with applicable accounting standards and GEM listing rules[93] - The company’s financial statements are prepared in accordance with International Financial Reporting Standards and GEM listing rules[17] - The company has adopted new International Financial Reporting Standards, which did not have a significant impact on the unaudited financial statements[20]
永续农业(08609) - 2021 Q3 - 季度财报