Financial Performance - The Group's total revenue decreased by approximately S$160,000 or 0.2% from approximately S$70.1 million in FY2023 to approximately S$70.0 million in FY2024[20]. - The Group's total gross profit decreased by approximately S$25,000 or 0.1% from approximately S$19.77 million in FY2023 to approximately S$19.74 million in FY2024, maintaining a gross profit margin of 28.2%[20]. - The Group's profit for the year increased by approximately S$0.9 million or 15.9% from approximately S$5.5 million in FY2023 to approximately S$6.3 million in FY2024[20]. - The Group's gross profit for the year ended 31 December 2024 was S$19,740,690, slightly down from S$19,766,148 in 2023[38]. - Profit for the year ended 31 December 2024 was S$6,324,581, compared to S$5,455,152 in 2023, representing an increase of approximately 15.9%[38]. - The total equity of the Group increased to S$82,141,901 as at 31 December 2024, up from S$73,205,907 in 2023, reflecting a growth of approximately 12.5%[39]. - The Group's profit margin for the year was 9.0% in 2024, up from 7.8% in 2023, showing improved profitability[43]. - Other income increased by approximately S$63,000 or 6.9% from approximately S$0.9 million for the year ended 31 December 2023 to approximately S$1.0 million for the year ended 31 December 2024[85]. - Selling and distribution expenses decreased by approximately S$0.7 million or 15.1% from approximately S$4.7 million for the year ended 31 December 2023 to approximately S$4.0 million for the year ended 31 December 2024[92]. - Administrative expenses increased by approximately S$1.0 million or 12.0% from approximately S$8.6 million for the year ended 31 December 2023 to approximately S$9.6 million for the year ended 31 December 2024[98]. - The Group's cost of sales decreased by approximately S$134,000 or 0.3% from approximately S$50.4 million for the year ended 31 December 2023 to approximately S$50.2 million for the year ended 31 December 2024[83]. - Other gains increased to approximately S$0.8 million for the year ended 31 December 2024, compared to other losses of approximately S$0.4 million for the year ended 31 December 2023[86]. - The annual profit increased from approximately S$5.5 million for the year ended December 31, 2023, to approximately S$6.3 million for the year ended December 31, 2024, representing a growth of about 15.9%[101]. Market and Economic Outlook - The Singapore economy expanded by 4.4% in 2024, compared to 1.8% in 2023[19]. - The forecasted GDP growth for Singapore in 2025 is between 1.0% and 3.0%[26]. - The economic outlook for Singapore in 2025 is projected to grow between 1.0% and 3.0%, indicating potential challenges ahead[68]. - The global snack food market is projected to grow at approximately 2.7% annually to 2027, driven by changes in dietary habits and demand for healthy snacks[76]. Product and Sales Performance - The Group's core products include roasted nuts, baked nuts, potato chips, and cassava chips, with distribution in over 10 countries[46]. - Sales of nuts accounted for approximately 67.7% of total revenue in 2024, up from 65.6% in 2023, while chip sales decreased from 31.4% in 2023 to 28.7% in 2024[54]. - The Group's revenue from chips was S$20.06 million in 2024, with a gross profit of S$6.30 million and a margin of 31.4%, down from S$7.18 million in 2023[61]. - The Group's revenue from other products increased from S$2.12 million in 2023 to S$2.52 million in 2024, contributing 3.6% to total revenue[53]. - The Singapore market contributed approximately 61.0% of total revenue in 2024, while Malaysia accounted for 30.3%, indicating stable sales composition across these regions[58]. Dividends and Shareholder Information - The Board has recommended a final dividend of 0.23 Hong Kong cents per ordinary share for FY2024, totaling approximately HK$2.3 million (equivalent to approximately S$0.4 million)[29]. - The 2024 Final Dividend is subject to shareholder approval at the annual general meeting scheduled for 30 May 2025[189]. - The 2024 Final Dividend will be payable on or around 30 June 2025 to shareholders on the register as of 9 June 2025[189]. - There are no arrangements for any shareholder to waive or agree to waive any dividend[194]. - The ability to pay dividends depends on the Group's current and future operations, financial position, and other relevant factors[200]. Management and Corporate Governance - The Group is actively monitoring potential investment opportunities in China to drive long-term growth[28]. - The Group's commitment to quality assurance has led to various certifications in quality management and food safety[47]. - The Group's liquidity risk management includes monitoring trade receivables and ensuring healthy bank balances to meet financial obligations[102]. - The Group employed 350 and 358 employees as of December 31, 2024, and December 31, 2023, respectively, with staff costs of approximately S$13.3 million and S$12.4 million for the respective years[131]. - The Group's executive directors have over 30 years of experience in the snacks industry, focusing on operations, sales, and marketing[137]. Financial Position and Ratios - The current ratio improved to 7.5 as at 31 December 2024, compared to 6.6 in 2023, indicating better short-term financial health[43]. - The Group's final dividend for the year ended December 31, 2024, is recommended at 0.23 Hong Kong cents per ordinary share, totaling approximately HK$2.3 million (equivalent to approximately S$0.4 million)[123]. - The Group's net proceeds from the IPO amounted to approximately HK$66.8 million (equivalent to approximately S$11.7 million), with actual utilization as of December 31, 2024, being approximately HK$61.1 million[119]. - The Group has capital commitments of approximately S$25,000 as of December 31, 2024, down from approximately S$0.5 million in 2023[111]. - There were no material acquisitions or disposals of subsidiaries and associated companies for the year ended December 31, 2024[113].
TS WONDERS(01767) - 2024 - 年度财报