Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 28,619,000, representing an increase of 8.4% compared to SGD 26,384,000 for the same period in 2023[1] - The company reported a net loss of SGD 130,000 for the first half of 2024, an improvement from a net loss of SGD 575,000 in the same period of 2023[2] - The basic and diluted loss per share for the first half of 2024 was SGD (0.01), an improvement from SGD (0.07) in the same period of 2023[2] - The company reported a net profit of SGD 58,891 for the six months ended June 30, 2024, compared to a net profit of SGD 51,695 for the same period in 2023, representing an increase of approximately 13.5%[6] - The total comprehensive loss for the period was SGD 130, which includes a loss of SGD 575 compared to a loss of SGD 16 in the previous period[6] Cash Flow and Assets - Operating cash flow for the six months ended June 30, 2024, was SGD 4,165,000, up from SGD 3,863,000 in the prior year, indicating a 7.8% increase[5] - Total assets as of June 30, 2024, were SGD 190,683,000, compared to SGD 187,361,000 as of December 31, 2023, reflecting a growth of 1.2%[3] - The company’s cash and cash equivalents at the end of June 30, 2024, were SGD 6,481,000, down from SGD 7,386,000 at the end of 2023[5] - The company’s retained earnings as of June 30, 2024, were reported at SGD 58,891, reflecting a positive growth trend[6] Liabilities and Equity - The company's total liabilities decreased slightly to SGD 90,539,000 as of June 30, 2024, from SGD 91,333,000 at the end of 2023[4] - As of June 30, 2024, the total equity amounted to SGD 86,304, a decrease from SGD 86,418 as of January 1, 2024[6] - The group’s current liabilities increased to SGD 24,060,000 from SGD 20,378,000, resulting in a net current liability of SGD (13,856,000) compared to SGD (9,610,000) in the previous period[41] Costs and Expenses - The cost of goods sold for the first half of 2024 was SGD 9,446,000, which is an increase of 7.5% from SGD 8,785,000 in the same period of 2023[1] - Employee costs rose to SGD 8,979,000 in the first half of 2024, compared to SGD 8,492,000 in the previous year, marking a 5.7% increase[1] - The company’s financial costs increased to SGD 1,715,000 in the first half of 2024, up from SGD 1,242,000 in the same period of 2023, representing a significant rise of 38.1%[1] - Other operating expenses decreased by approximately SGD 0.2 million or 11.7% to about SGD 2.1 million, primarily due to reductions in administrative and legal expenses[39] Business Segments and Operations - The company operates in two business segments: rental and shop management, and food stall operations, focusing on leasing restaurant spaces and managing food stalls[11][12] - Rental income from external contracts was SGD 24,196 thousand, with a significant contribution from food and beverage segments amounting to SGD 22,062 thousand[18] - The company reported a segment profit of SGD 125 thousand, compared to a loss of SGD 328 thousand in the previous year, indicating an improvement in operational efficiency[16] - The company aims to expand its market presence through strategic management of its restaurant and food stall operations[12] Compliance and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with the latest accounting standards[9][10] - The company has implemented new accounting standards effective from January 1, 2024, which include several amendments to existing IFRS[10] - The company confirmed compliance with the standards for securities trading by directors during the reporting period[51] Future Outlook and Strategy - The company is actively exploring new product development and technology enhancements to drive future growth[17] - The company plans to continue expanding its market presence in Singapore, focusing on enhancing service offerings and customer engagement[17] - The company is focusing on cost control measures and optimizing asset utilization to mitigate economic pressures and maintain financial stability[33] - The company remains committed to maintaining profitability and ensuring long-term growth despite ongoing challenges in the operating environment[33]
K2 F&B(02108) - 2024 - 中期业绩