Revenue and Profit - Total revenue increased from approximately 12,372 thousand SGD in the corresponding period to about 14,514 thousand SGD, representing a growth of approximately 17.3%[13] - 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[14] - Revenue for the six months ended September 30, 2024, was SGD 14,514 million, an increase of 17.3% compared to SGD 12,372 million in the same period of 2023[77] - Gross profit for the same period was SGD 9,213 million, reflecting a 21.2% increase from SGD 7,602 million year-over-year[79] - Net profit attributable to equity holders for the six months was SGD 207 million, down 53.6% from SGD 445 million in the previous year[87] - The company reported a total comprehensive income of SGD 659 million, compared to SGD 323 million in the same period last year, driven by foreign exchange gains[90] - Total net profit for the six months ended September 30, 2024, was SGD 8,962,000, compared to SGD 8,000,000 for the same period in 2023, reflecting a growth of 12.0%[139] Expenses and Costs - Sales and distribution expenses increased by approximately 1,264 thousand SGD or 39.7%, mainly due to increased marketing expenses and higher costs associated with the growing number of stores[17] - Administrative expenses rose by approximately 427 thousand SGD or 10.6%, primarily due to increased payroll costs associated with the expansion of the headquarters[17] - Employee benefits and director remuneration totalled SGD 4,861,000 in 2024, up from SGD 4,087,000 in 2023, an increase of 18.9%[147] - The cost of inventory included in cost of sales for the periods ended September 30, 2024, and 2023, was 5,301,000 SGD and 4,770,000 SGD, respectively, indicating an increase of 11%[153] Employee and Management - As of September 30, 2024, the group had 265 employees, with total employee costs amounting to approximately 5,058 thousand SGD, compared to 175 employees and 4,361 thousand SGD in the corresponding period[20] - The increase in employee costs is attributed to the growth in headquarters staff, the addition of new brands, and an increase in self-operated specialty store numbers[20] - The company provides customized training for employees to enhance their relevant skills and knowledge[20] - Major management remuneration for the six months ended September 30, 2024, was 1,150,000 SGD, compared to 1,263,000 SGD for the same period in 2023, reflecting a decrease of 9%[169] Assets and Liabilities - Total assets increased to SGD 34,489 million as of September 30, 2024, compared to SGD 33,921 million as of March 31, 2024[97] - Total liabilities decreased slightly to SGD 9,487 million from SGD 9,578 million as of March 31, 2024[101] - Cash and cash equivalents decreased to SGD 21,486 million from SGD 22,134 million at the end of the previous reporting period[116] - Total borrowings as of September 30, 2024, were 1,755,000 SGD, down from 1,820,000 SGD as of March 31, 2024[165] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the interim results and found them compliant with applicable accounting standards[71] - The company maintains high standards of corporate governance, adhering to the corporate governance code as per the listing rules[67] - There have been no changes in the directors' information since the last annual report[66] - The company has confirmed compliance with the standard code during the review period[70] Future Plans and Expansion - 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[37] - The company has identified a new location for the EatPizza brand in Malaysia, with plans to open by the end of 2024[8] - The company plans to continue focusing on market expansion and product development to drive future growth[130] Stock Options and Equity - The stock option plan allows for a total of 80,000,000 shares to be granted, representing 10% of the total issued shares as of the mid-term report date[26] - No stock options have been granted, exercised, or canceled since the company's listing date on October 23, 2019[23] - The maximum rights for any eligible person under the stock option plan are limited to 1% of the total issued shares within a 12-month period unless approved by shareholders[28] - The exercise price for any specific stock option will be determined by the board and must be at least the higher of the closing price on the offer date or the average closing price over the preceding five trading days[34] - The stock option plan is valid for ten years from the adoption date unless terminated earlier by the company[35] - The company aims to incentivize and reward qualified individuals for their contributions through the stock option plan[24] Financial Ratios - The current ratio as of September 30, 2024, was approximately 4.8 times, unchanged from March 31, 2024[45] - The group’s net cash equity ratio was approximately 0.8 as of September 30, 2024, consistent with the previous period[45] - The group’s debt-to-equity ratio was approximately 23% as of September 30, 2024, compared to 22% as of March 31, 2024[48]
快餐帝国(01843) - 2025 - 中期财报