Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 387,301 thousand, an increase of 6.4% compared to HKD 363,913 thousand for the same period in 2023[2] - Gross profit for the same period was HKD 123,546 thousand, representing a gross margin of 31.9%, up from HKD 110,721 thousand in 2023[2] - Operating profit decreased to HKD 36,926 thousand, down 18.5% from HKD 45,383 thousand in the previous year[2] - Profit before tax was HKD 34,644 thousand, a decline of 20.8% compared to HKD 43,737 thousand in the prior period[2] - The net profit for the period was HKD 37,044 thousand, down from HKD 43,737 thousand, reflecting a decrease of 15.4%[2] - Total comprehensive income for the period was HKD 39,761 thousand, slightly lower than HKD 43,689 thousand in the previous year[4] - Basic and diluted earnings per share were HKD 4.07, down from HKD 4.81 in the same period last year[4] - The company reported total revenue of HKD 387.3 million for the six months ended September 30, 2024, an increase of HKD 23.4 million or 6.4% compared to HKD 363.9 million for the same period last year[43] - The unaudited consolidated profit attributable to the company's owners for the period was HKD 37.0 million, down from HKD 43.7 million in the same period last year[43] Revenue Breakdown - Revenue from gold jewelry, jewelry, watches, and gift retail was HKD 341,151,000, while bullion trading and diamond wholesale generated HKD 46,039,000 and HKD 111,000 respectively for the six months ended September 30, 2024[20] - Retail business revenue increased by HKD 25.2 million or 7.0% to HKD 387.2 million, despite a challenging economic environment in Hong Kong and mainland China[44] - Same-store sales growth reached 8.6% during the period, supported by loyal customer base and partnerships with high-end watch suppliers[44] Costs and Expenses - The cost of sales for the six months ended September 30, 2024, was HKD 263,183,000, compared to HKD 252,436,000 for the same period in 2023, indicating an increase of about 4.0%[26] - Net profit decreased by HKD 6.7 million or 15.3%, primarily due to unrealized non-cash losses on gold lending of HKD 10.4 million[46] Assets and Equity - The company's total assets as of September 30, 2024, were HKD 957,956 thousand, compared to HKD 917,316 thousand as of March 31, 2024[6] - Current assets amounted to HKD 861,108 thousand, a slight decrease from HKD 863,965 thousand in the previous period[6] - The company's equity attributable to owners was HKD 771,339 thousand, an increase from HKD 755,220 thousand as of March 31, 2024[7] Dividends - The company declared a final dividend of HKD 2.6 per ordinary share for the fiscal year 2023/24, compared to HKD 2.0 per share for the previous year, representing a 30% increase[28] - The interim dividend declared for the six months ended September 30, 2024, is HKD 0.004 per ordinary share, unchanged from the previous year[40] - The company will suspend the registration of share transfers on December 9, 2024, for shareholders to receive the interim dividend[42] Accounting and Reporting - The company has identified a single reporting segment, which is retail, bullion trading, and diamond wholesale, with over 90% of revenue generated from operations in Hong Kong[17] - The company expects that the application of new accounting standards will not have a significant impact on its financial performance and position[14] - The company is currently assessing the impact of the new accounting standards and amendments that will come into effect starting January 1, 2026[14] - No single customer accounted for 10% or more of the total revenue for the six months ended September 30, 2024[18] Investments and Future Outlook - The company plans to continue investing in product design and production of gold jewelry to meet customer demand and preferences[48] - The introduction of the "Gold for Diamonds" product line is aimed at expanding the customer base following the relocation of the store in Harbour City[48] - The company anticipates that geopolitical tensions and high gold prices will continue to affect consumer sentiment in the short term[47] - The company expects a gradual recovery in the luxury goods market in the medium to long term due to recent government policies aimed at stabilizing the real estate and capital markets in mainland China[47] - The company will continue to invest in employee development, brand building, digital marketing, and creative product design[48] Share Transactions - The company did not repurchase or cancel any ordinary shares during the six months ended September 30, 2024[30] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending September 30, 2024[49] Lease and Assets - The right-of-use assets recognized for the period amounted to HKD 10,407,000 and HKD 16,624,000 for additions and lease adjustments, respectively[33] - The impairment loss provision for right-of-use assets was HKD 2,124,000 for the period, compared to HKD 3,271,000 for the same period last year[33] - The lease liabilities at the end of the reporting period were HKD 49,252,000, with future interest expenses totaling HKD 3,213,000[36] - Trade receivables as of September 30, 2024, totaled HKD 5,346,000, compared to HKD 8,047,000 as of March 31, 2024[40]
景福集团(00280) - 2025 - 中期业绩