Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 6,249,879, a decrease of 19.5% compared to SGD 7,768,876 for the same period in 2023[4] - Gross profit increased to SGD 3,076,712, representing a gross margin of 49.2%, compared to SGD 2,219,570 and a gross margin of 28.5% in the previous year[4] - Net profit for the period was SGD 2,102,685, a significant increase of 173.5% from SGD 767,579 in the same period last year[4] - Basic and diluted earnings per share rose to SGD 0.888, up from SGD 0.324, reflecting a growth of 174.1%[4] - The net profit for the six months ended June 30, 2024, was SGD 2,102,685, compared to SGD 767,579 for the same period in 2023, representing a significant increase of 174.5%[8] - Profit attributable to owners of the company was SGD 2,102,685 for the six months ended June 30, 2024, compared to SGD 767,579 in the same period of 2023, representing a significant increase[23] - The company's pre-tax profit for the six months ended June 30, 2024, was approximately SGD 2,524,585, compared to SGD 954,279 in the same period of 2023[35] Assets and Liabilities - Total assets as of June 30, 2024, were SGD 13,572,744, an increase from SGD 11,689,475 as of December 31, 2023[5] - Current liabilities decreased to SGD 4,290,164 from SGD 6,745,354, indicating improved liquidity[5] - The company reported a total equity of SGD 12,845,928, up from SGD 10,920,150 at the end of 2023[6] - The total borrowings of the company as of June 30, 2024, were SGD 2,590,000, down from SGD 2,804,000 at the end of 2023[37] - Trade receivables, net of expected credit loss provisions, were SGD 2,602,902 as of June 30, 2024, compared to SGD 4,243,243 at the end of 2023[25] - The company’s asset-liability ratio was approximately 14.5% as of June 30, 2024, compared to 15.2% at the end of 2023[37] Cash Flow and Liquidity - The company has maintained a strong cash position with bank and cash balances totaling SGD 5,132,606 as of June 30, 2024[5] - Cash generated from operating activities for the six months ended June 30, 2024, was SGD 947,634, an increase of 13.7% compared to SGD 833,262 in 2023[9] - The cash and cash equivalents as of June 30, 2024, amounted to SGD 5,132,606, up from SGD 3,083,757 as of June 30, 2023, reflecting a growth of 66.5%[9] - The company’s cash flow from financing activities for the six months ended June 30, 2024, was a net outflow of SGD 267,581, slightly lower than SGD 268,665 in the same period of 2023[9] - Cash and cash equivalents increased by approximately SGD 840,000, reaching SGD 5,133,000 as of June 30, 2024, compared to SGD 4,292,000 at the end of 2023[37] Income and Expenses - Other income increased to SGD 82,440 from SGD 43,384, showing a growth of 90.5% year-on-year[4] - The interest income for the six months ended June 30, 2024, was SGD 37,138, while other income totaled SGD 45,302, leading to a total other income of SGD 82,440, compared to SGD 43,384 in 2023[18] - The company incurred total finance costs of SGD 52,988 for the six months ended June 30, 2024, down from SGD 72,662 in the same period of 2023, indicating a reduction of 27%[20] - The income tax expense for the six months ended June 30, 2024, was SGD 421,900, significantly higher than SGD 186,700 in 2023, reflecting an increase of 126.5%[21] - The company experienced a decrease in sales and administrative expenses, which were approximately SGD 1,049,000 for the six months ended June 30, 2024, a reduction of about 20.3% from SGD 1,316,000 in 2023[35] - Total employee costs for the six months ended June 30, 2024, were approximately SGD 1,041,000, compared to SGD 1,663,000 for the same period in 2023, reflecting a decrease in workforce from 81 to 76 employees[46] Revenue Breakdown - The company’s revenue from the signage business was SGD 5,442,292, while revenue from renovation services was SGD 807,587 for the six months ended June 30, 2024[14] - Revenue from sales of signage and advertising in Singapore for the six months ended June 30, 2024, was approximately SGD 5,442,000, a decrease of about 6.9% or SGD 401,000 compared to SGD 5,843,000 in the same period of 2023, primarily due to intense market competition[38] - Revenue from renovation and refurbishment services for commercial and residential properties for the six months ended June 30, 2024, was approximately SGD 808,000, down from SGD 1,926,000 in the same period of 2023, attributed to reduced demand and heightened competition[39] Corporate Governance and Future Outlook - The company is committed to exploring new market opportunities and enhancing product development strategies moving forward[2] - The outlook for the construction sector in Singapore indicates a slow recovery, but challenges remain due to competitive bidding prices and rising material costs[41] - The group has no significant investments or future plans for major capital assets as of June 30, 2024[43] - The group has no foreign currency hedging policy but monitors foreign exchange risks closely[42] - The board is committed to adhering to corporate governance codes and enhancing internal control systems[56] - The audit committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[61] Shareholder Information - The company’s major shareholder, Absolute Truth Investments Limited, holds 39,337,600 shares, representing approximately 16.61% of the issued share capital[50] - As of June 30, 2024, a total of 23,680,000 share options were available for grant under the share option scheme[22] Events After Reporting Period - There were no significant events occurring after June 30, 2024[47] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[24] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[59]
吉辉控股(08027) - 2024 - 中期业绩