Financial Performance - For the fiscal year ending March 31, 2025, the company reported total revenue of HKD 2,842.7 million, representing a year-on-year increase of 3.4% compared to HKD 2,748.4 million in the previous fiscal year[3] - The company's profit before tax decreased by 34.1% to HKD 100.2 million, down from HKD 152.0 million in the previous year, resulting in a profit margin of 2.8% compared to 4.3%[3] - The annual profit for the fiscal year was HKD 79.8 million, a decline of 32.7% from HKD 118.6 million in the previous year[3] - The operating profit for the year ended March 31, 2025, was HKD 124.0 million, down from HKD 174.7 million in the previous year[50] - The company reported a basic earnings per share of 6.0 cents for the year ended March 31, 2025, down from 8.9 cents in the previous year[50] - The group reported a pre-tax profit of HKD 44,858 million for the fiscal year 2025, down from HKD 50,539 million in 2024, indicating a decrease of 11.2%[63] - Basic earnings per share for the current year is HKD 0.0595, down from HKD 0.0886 in the previous year, based on a weighted average of 1,341,321,000 shares[68] - Diluted earnings per share for the current year is HKD 0.0595, compared to HKD 0.0886 in the previous year, calculated on a diluted weighted average of 1,344,471,000 shares[69] Revenue and Costs - The company's revenue increased by 3.4% from HKD 2,748.4 million in FY2024 to HKD 2,842.7 million in FY2025, driven by an increase in the number of operating restaurants[19] - The cost of food and beverages rose by 3.8% from HKD 648.1 million in FY2024 to HKD 672.9 million in FY2025, maintaining a stable percentage of revenue at 23.6% and 23.7% respectively[20] - Employee costs increased by 3.6% from HKD 889.5 million in FY2024 to HKD 921.9 million in FY2025, with a stable percentage of revenue at 32.4% for both fiscal years[22] - The company's other expenses increased by 29.6% from HKD 81.7 million in FY2024 to HKD 105.9 million in FY2025, primarily due to higher restaurant closure costs[28] - The company's advertising and promotional expenses decreased from HKD 61.2 million in FY2024 to HKD 57.2 million in FY2025, with a slight decline in percentage of revenue from 2.2% to 2.0%[27] - Financing costs increased by 3.1% from HKD 22.7 million in FY2024 to HKD 23.4 million in FY2025 due to the expansion of the restaurant network[29] Store Operations and Expansion - The company opened 14 new self-operated restaurants during the fiscal year, increasing its total to 243 locations across Hong Kong, mainland China, Singapore, and Japan[8] - The company has entered the Australian market by opening two franchised "Tam Jai Hong Kong Noodles" stores, marking its first expansion into the Western market[9] - The company reduced its store network in mainland China and Singapore, leading to one-time closure expenses that contributed to the decline in profitability[9] - The company plans to expand its Japanese restaurant brands "Marugame Seimen" and "Yam牛" in Hong Kong, following positive initial results from their first three stores[17] - The company has established partnerships to expand into Malaysia and the Philippines after opening two stores in Australia in FY2025[18] Assets and Liabilities - Right-of-use assets increased from HKD 778.9 million as of March 31, 2024, to HKD 786.3 million as of March 31, 2025, due to more lease agreements for restaurants[32] - Inventory decreased from HKD 24.9 million as of March 31, 2024, to HKD 21.2 million as of March 31, 2025, with inventory turnover days improving from 13.6 days to 12.5 days[33] - Trade and other receivables increased from HKD 239.6 million as of March 31, 2024, to HKD 257.2 million as of March 31, 2025, mainly due to an increase in trade balances from delivery platforms[35] - Trade and other payables rose from HKD 231.8 million as of March 31, 2024, to HKD 249.3 million as of March 31, 2025[36] - As of March 31, 2025, cash and cash equivalents amounted to HKD 1,327.7 million, a slight decrease from HKD 1,351.5 million as of March 31, 2024[38] Corporate Governance and Compliance - The company has maintained high corporate governance standards, adhering to the applicable codes despite some deviations, such as the roles of Chairman and CEO being held by the same individual[74] - The company has adopted the standard code of conduct for directors trading in securities as per Listing Rule Appendix C3, confirming compliance for the fiscal year 2025[75] - The audit committee consists of three independent non-executive directors, with the chairman possessing the appropriate professional qualifications as per Listing Rule 3.10(2)[78] - The independent auditor, KPMG, confirmed that the financial figures in the announcement are consistent with the group's consolidated financial statements for the fiscal year 2025[80] Dividends and Shareholder Information - The proposed final dividend for the reporting period is zero cents per share, compared to 5.9 cents per share in the previous year, resulting in total dividends of HKD 18,113,000 for the current year versus HKD 119,349,000 for the previous year[67] - The company plans to privatize, offering HKD 1.58 per share to shareholders, pending the fulfillment of certain conditions[73] - The company has issued 1,346,779,890 ordinary shares as of March 31, 2025, reflecting an increase from 1,346,698,490 shares in the previous year[72] Market Environment - The company faced increased competition and price wars in Hong Kong's restaurant industry, impacting its operating environment and profitability[10] - The group did not have any individual customer contributing more than 10% of total revenue for the fiscal years ending March 31, 2025, and 2024[62] - The tax rate for the first HKD 2 million of taxable profits for qualifying entities is 8.25%, while the remaining taxable profits are taxed at 16.5%[66] Other Information - The company completed the acquisition of all shares in Dong Li Duo and Yi Holdings Limited for HKD 4.1 million on November 8, 2024, with an additional repayment of approximately HKD 8.4 million in shareholder loans[44] - There have been no significant events affecting the group's performance and value since the end of the fiscal year 2025[77] - The announcement of the annual results and the annual report will be published on the Hong Kong Stock Exchange website and the company's website[82]
谭仔国际(02217) - 2025 - 年度业绩