Financial Performance - The company recorded revenue of HKD 1,270,635,000 for the six months ended October 31, 2024, a decrease of 3.9% compared to HKD 1,322,485,000 for the same period in 2023/24[5] - Profit attributable to equity holders of the company was HKD 32,959,000, down 35.1% from HKD 50,764,000 in the previous year[7] - Gross profit for the same period was HKD 596,681, down 3.6% from HKD 618,819 in 2023[35] - Operating profit decreased to HKD 46,858, a decline of 30.3% compared to HKD 67,146 in the previous year[35] - Net profit for the period was HKD 30,016, down 38.6% from HKD 48,920 in 2023[35] - Basic earnings per share decreased to HKD 4.58, down from HKD 7.06 in the same period last year[35] - The total income tax expense for the six months ended October 31, 2024, was HKD 7,348,000, a decrease of 32.9% from HKD 10,892,000 in 2023[73] - The company declared an interim dividend of HKD 0.04 per share for the six months ended October 31, 2024, compared to HKD 0.056 per share in 2023, representing a reduction of 28.6%[79] Liquidity and Financial Position - The company maintained a strong liquidity position with cash and cash equivalents of HKD 308,072,000 as of October 31, 2024, compared to HKD 318,775,000 a year earlier[10] - The current ratio improved to 1.6 from 1.5 as of April 30, 2024[10] - Total assets decreased from HKD 1,742,182 thousand as of April 30, 2024, to HKD 1,669,489 thousand as of October 31, 2024, representing a decline of approximately 4.18%[37] - Total liabilities decreased to HKD 784,128,000 as of October 31, 2024, from HKD 848,474,000 as of April 30, 2024[67] - Total equity decreased from HKD 893,708 thousand to HKD 885,361 thousand, a decline of approximately 0.39%[38] - Cash and cash equivalents decreased from HKD 338,501 thousand to HKD 308,072 thousand, a reduction of about 8.99%[40] - Operating cash flow generated was HKD 204,232 thousand, down from HKD 259,338 thousand, indicating a decrease of approximately 21.23%[40] Operational Efficiency and Cost Control - The company is focusing on cost control and operational efficiency to maintain market share and brand awareness[20] - Total employee costs decreased by 8.1% to HKD 216,886,000 from HKD 199,383,000 in the previous year[11] - The company employed approximately 2,070 staff as of October 31, 2024, down from about 2,190 a year earlier[11] - Cost control measures have been implemented, including optimizing the workforce and negotiating lease agreements, which are expected to positively impact financial performance in the coming years[27] - The company is focusing on enhancing core business operations and strict budget management to mitigate external uncertainties[27] Revenue Sources and Market Performance - Retail sales revenue reached HKD 1,257,698,000, accounting for 99.0% of total revenue[15] - Revenue from Hong Kong decreased by 4.1% to HKD 1,099,958,000, representing 86.6% of total revenue[18] - Singapore's revenue declined by 3.7% to HKD 147,986,000[20] - Macau's revenue increased by approximately 4% to HKD 22,691,000[21] - The wholesale and franchise income grew to HKD 12,937,000, up from HKD 3,962,000[16] Strategic Initiatives - The company plans to expand its product range and maintain appropriate inventory levels to meet customer demand[9] - The company aims to enhance its brand loyalty and product diversification by developing new private label products[9] - The company plans to upgrade its membership program to convert 300,000 out of 1,000,000 members to gold status by 2025[24] - The launch of a one-hour "Click and Collect" service on the online shopping platform JHCeshop aims to enhance customer convenience[24] - The company plans to expand its private label product range to improve gross margins and meet customer demand[25] - The company aims to respond quickly to market trends and customer needs, emphasizing operational efficiency and strategic growth plans[28] Shareholder and Governance Information - The company declared an interim dividend of HKD 0.04 per share, totaling approximately HKD 28.8 million, compared to HKD 40.315 million for the previous year[125] - The company has adopted the corporate governance code and is committed to maintaining high standards of corporate governance[120] - The company’s chairman and CEO, Ms. Wei, holds both positions, which the board believes is in the best interest of the group[120] - The company’s total equity held by directors and senior management as of October 31, 2024, included 361,902,000 shares held by Ms. Wei Lixia, representing 49.98%[107] - The company’s major shareholders include Webb David Michael with 8.01% and Preferable Situation Assets Limited with 5.00%[113] Financial Risks and Accounting Standards - The group faces various financial risks, including foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk[51] - The group has adopted new and revised accounting standards effective from May 1, 2024, with no significant impact on previously reported amounts[47] - The group has not adopted new and revised accounting standards that will take effect after May 1, 2024, and preliminary assessments indicate no significant impact on operational performance or financial position[49] - The group is currently evaluating the impact of new and revised standards on its financial statements, with no major changes expected in risk management policies since April 30, 2024[51]
国际家居零售(01373) - 2025 - 中期财报