Revenue Growth - Total revenue increased from approximately 12,372 thousand SGD in the corresponding period to about 14,514 thousand SGD in the review period, representing a growth of approximately 17.3%[14] - The increase in revenue was primarily driven by the addition of the EatPizza brand, contributing approximately 826 thousand SGD, and a combined increase of about 1,333 thousand SGD in retail and delivery sales for the Shilin Taiwanese Street Snacks brand in Singapore and Malaysia[15] - Revenue for the six months ended September 30, 2024, was SGD 14,514 million, representing a 17.3% increase from SGD 12,372 million in the same period of 2023[78] - Revenue from Singapore increased to SGD 6,418 thousand in 2024 from SGD 5,079 thousand in 2023, reflecting a growth of about 26.4%[138] - Revenue from Malaysia decreased slightly to SGD 6,373 thousand in 2024 from SGD 5,506 thousand in 2023, a decline of approximately 2.4%[138] Store Expansion - The company opened 2 new self-operated stores for the Shilin brand in Singapore during the review period, with an additional store expected to open in the first quarter of 2025[9] - The company has also opened 3 self-operated stores for the EatPizza brand in Singapore and launched its first self-operated store in Malaysia during the review period[9] - The company plans to open an additional location for the EatPizza brand in Malaysia by the end of 2024[9] - The company plans to open new self-operated stores in Singapore and West Malaysia, with expected completion dates in March 2025 and March 2026, respectively[38] Financial Performance - Gross profit increased to SGD 9,213 million, up 21.2% from SGD 7,602 million year-over-year[80] - Net profit attributable to equity holders for the period was SGD 207 million, a decrease of 53.6% compared to SGD 445 million in the previous year[88] - The net profit for the six months ended September 30, 2024, was SGD 40 thousand, down from SGD 60 thousand in the same period of 2023, indicating a decrease of 33.3%[145] - Basic and diluted earnings per share for the six months ended September 30, 2024, were 0.08 SGD, up from 0.04 SGD in 2023, reflecting a 100% increase[152] Expenses and Costs - Total sales and distribution expenses increased by approximately 1,264 thousand SGD or 39.7% due to higher marketing expenses and an increase in the number of stores, leading to higher wages and rental costs[18] - Administrative expenses rose by approximately 427 thousand SGD or 10.6%, primarily due to increased office staff costs associated with headquarters expansion[18] - The total employee cost for the review period was approximately 5,058 thousand SGD, up from 4,361 thousand SGD in the corresponding period, attributed to an increase in the number of employees and new brand additions[21] - Total employee benefits and director remuneration costs increased to SGD 4,861 thousand in 2024 from SGD 4,087 thousand in 2023, an increase of approximately 18.9%[148] Financial Position - As of September 30, 2024, the company's total equity was approximately SGD 25.0 million, with current assets of SGD 25.4 million and current liabilities of SGD 5.3 million, resulting in a current ratio of 4.8[46] - The company's net cash equity ratio is approximately 0.8, indicating a stable financial position[46] - The company has no significant capital commitments or contingent liabilities as of September 30, 2024[42][55] - The company's debt-to-equity ratio is approximately 23% as of September 30, 2024, reflecting a manageable level of debt[49] - The company has maintained a prudent financial management approach to ensure good liquidity throughout the review period[48] Corporate Governance - The board of directors has resolved not to declare any interim dividend for the review period, consistent with the corresponding period[20] - The company has adopted the Corporate Governance Code and is committed to maintaining high standards of corporate governance[68] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim results and believes they comply with applicable accounting standards[72] Shareholder Information - As of September 30, 2024, the company has 800,000,000 issued shares, with Daniel Tay and Huang Zhi Da each holding 600,000,000 shares, representing 75% ownership[61] - Daniel Tay and Huang Zhi Da each have a beneficial interest of 50% in Qiao Mai Limited, which holds 600,000,000 shares, also representing 75% ownership[64] - The company did not purchase, redeem, or sell any of its listed securities during the review period[65] - There were no changes in the directors' information from the last annual report to the date of this interim report[67] Operational Developments - The central kitchen in Singapore has passed necessary inspections and is now operational, with plans to expand the menu offerings and streamline store processes in 2025[9] - A warehouse has been purchased in Malaysia to support future expansion, aiming to reduce rental and relocation costs after existing leases expire[10] - The company provides customized training for employees to enhance their relevant skills and knowledge[21] Other Financial Metrics - Cash and cash equivalents decreased to SGD 21,486 million from SGD 22,134 million at the end of the previous reporting period[117] - Operating cash flow for the period was SGD 998 million, down from SGD 1,863 million in the prior year[114] - The company reported a foreign exchange gain of SGD 452 million, compared to a loss of SGD 122 million in the previous year[90] - Total assets as of September 30, 2024, amounted to SGD 34,489 million, an increase from SGD 33,921 million as of March 31, 2024[98] - Total liabilities decreased slightly to SGD 9,487 million from SGD 9,578 million[102]
快餐帝国(01843) - 2025 - 中期业绩