Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 69,958,249, a slight decrease of 0.2% compared to SGD 70,117,966 in 2023[2] - Profit before tax increased by 14.7% to SGD 7,914,040 from SGD 6,901,898 in the previous year[2] - Net profit for the year rose by 15.9% to SGD 6,324,581, up from SGD 5,455,152 in 2023[2] - The company reported a total comprehensive income of SGD 9,334,262 for the year, significantly higher than SGD 4,805,622 in 2023[4] - The company's annual profit attributable to shareholders for the year ended December 31, 2024, was SGD 6,324,581, up from SGD 5,455,152 in 2023, indicating a growth of approximately 15.9%[36] - Basic earnings per share for the year ended December 31, 2024, were SGD 0.63, compared to SGD 0.55 in 2023, marking an increase of about 14.5%[36] Revenue Breakdown - Revenue from the nuts segment was SGD 47,382,053 in 2024, up from SGD 45,972,369 in 2023, indicating an increase of about 3.06%[23] - Revenue from the chips segment decreased to SGD 20,058,560 in 2024 from SGD 22,027,219 in 2023, reflecting a decline of approximately 8.93%[23] - The group's revenue from Singapore was SGD 42,677,732 in 2024, slightly down from SGD 42,721,738 in 2023, a decrease of about 0.1%[25] - Revenue from Malaysia increased to SGD 21,237,718 in 2024 from SGD 20,491,958 in 2023, representing a growth of approximately 3.63%[25] - For the fiscal year ending December 31, 2024, the sales revenue from nuts and chips accounted for approximately 67.7% and 28.7% of total revenue, respectively, with nuts' contribution increasing from 65.6% in the previous year[45] Assets and Liabilities - Cash and cash equivalents significantly increased by 89.5% to SGD 36,927,862 from SGD 19,490,038 in the prior year[2] - Total assets increased to SGD 84,953,854, up from SGD 75,626,552, reflecting a strong growth in net asset value by 12.2%[2] - Trade receivables as of December 31, 2024, amounted to SGD 12,177,902, an increase from SGD 11,557,873 in 2023, reflecting a growth of approximately 5.4%[38] - Trade payables as of December 31, 2024, were SGD 4,290,490, a decrease from SGD 4,448,421 in 2023, indicating a reduction of about 3.5%[40] Profitability Ratios - The gross profit margin remained stable at 28.2%, while the profit before tax margin improved to 11.3% from 9.8%[2] - The return on equity (ROE) increased to 7.7% from 7.5% in the previous year, indicating improved profitability relative to shareholders' equity[2] Expenses - The group incurred financing costs of SGD 68,064 in 2024, down from SGD 96,580 in 2023, indicating a reduction of about 29.5%[28] - Tax expenses for the year totaled SGD 1,589,459, compared to SGD 1,446,746 in 2023, reflecting an increase of approximately 9.85%[29] - The company’s total employee costs for the year ended December 31, 2024, were SGD 13,279,141, compared to SGD 12,368,618 in 2023, representing an increase of approximately 7.4%[33] - Sales and distribution expenses decreased by approximately 15.1% to about 4.0 million SGD for the fiscal year ending December 31, 2024, mainly due to reduced marketing and advertising expenses[59] - Administrative expenses increased by approximately 12.0% to about 9.6 million SGD for the fiscal year ending December 31, 2024, primarily due to increased maintenance and employee costs[60] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it for the year ending December 31, 2024[81] - The board consists of seven directors, including four executive directors and three independent non-executive directors[90] - The board proposed a final dividend of HKD 0.23 per ordinary share, totaling approximately HKD 2.3 million (equivalent to about SGD 0.4 million) for the year ending December 31, 2024[74] - The audit committee, consisting of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ending December 31, 2024[88] - Deloitte & Touche LLP confirmed that the financial figures in the preliminary announcement are consistent with the audited financial statements for the year ending December 31, 2024[89] Future Outlook - The company plans to continue expanding its product offerings and market presence, focusing on high-quality and safe food products to meet customer expectations[42] - The company anticipates a continued annual growth of approximately 2.7% in the global snack food market, including nuts and chips, until 2027[53] - The economic growth forecast for Singapore in 2025 is projected to be between 1.0% and 3.0%[51]
TS WONDERS(01767) - 2024 - 年度业绩