Financial Performance - The Group recorded a turnover of HK$230.96 million for the six months ended 30 June 2025, representing a 3.0% increase compared to HK$224.14 million for the same period in 2024[5]. - Profit attributable to owners of the Company surged to HK$8.6 million, a significant increase of approximately 1,620.0% from HK$0.5 million in the same period of 2024[7]. - Gross operating profit increased by 13.3% to HK$56.33 million, with a gross margin ratio of 24.4% compared to 22.1% for the same period of 2024[14]. - EBITDA for the period was HK$49.91 million, reflecting an 11.2% increase from HK$44.88 million in the same period of 2024[5]. - The Group's net ordinary operating profit reached HK$12.16 million, a substantial increase from HK$0.5 million in the same period of 2024[14]. - The profit attributable to owners of the Company for the six months ended June 30, 2025, was approximately HK$8.6 million, an increase of about 1,620.0% compared to HK$0.5 million in 2024[73][75]. - Basic profit per share for the six months ended June 30, 2025 was HK$1.24 cents, representing an increase of approximately 1,450.0% from HK$0.08 cents in 2024[91]. - Profit before income tax increased significantly to HK$11,735,000, up from HK$2,643,000 in the previous year, marking a growth of 344.5%[180]. - The profit for the period was HK$11,081,000, a substantial increase from HK$2,385,000 in 2024, reflecting a growth of 364.5%[180]. Business Segments - The Group's food and catering business contributed HK$5.8 million to the profit, while the food souvenir business contributed HK$5.6 million[8]. - The Group's food souvenir business recorded a turnover increase, achieving HK$46.4 million, up from HK$39.0 million in 2024, reflecting a growth of approximately 19.0%[22]. - The Group's industrial catering business turnover decreased by 3.3% to HK$8.9 million, while the food wholesale business turnover increased by 17.8% to HK$5.3 million[18]. - The food and catering business generated a profit of HK$5.8 million for the six months ended June 30, 2025, compared to a loss of HK$4.2 million in 2024[85]. - The food souvenir business recorded a profit of HK$5.6 million, a 64.7% increase from HK$3.4 million in the previous year[85]. - The property investment business reported a profit of HK$1.4 million, down by 65.0% from HK$4.0 million in 2024[85]. Visitor Arrivals - Visitor arrivals to Macau increased by 14.9%, totaling 19,218,540 visitors compared to 16,719,983 in the same period of 2024[16]. - The increase in turnover was mainly attributed to a rise in visitor arrivals to Macau and Hong Kong, with same-store performance increasing by approximately 6.2% across restaurants, food industrial catering, and food souvenir businesses[35]. - Macau visitor numbers increased by 14.9%, totaling 19,218,540 visitors during the period, compared to 16,719,983 in the same period of 2024[19]. Operational Developments - The Group did not open any new restaurants during the period but renewed its franchise for existing ramen restaurants for 10 years, targeting a total of 9 restaurants[17]. - The Group's management remains cautious regarding business expansion due to ongoing challenges such as economic slowdown and high operating costs in the food and catering industry[25]. - The number of restaurants increased from 24 in 2024 to 28 in 2025, with the total area of restaurants expanding to 34,656 sq.ft. from 28,971 sq.ft.[108]. Financial Position - As of 30 June 2025, the net current liabilities of the Group were approximately HK$146.7 million, a decrease of 40.2% from HK$245.3 million as of 31 December 2024[100]. - The net assets of the Group as of 30 June 2025 were approximately HK$360.7 million, an increase of 3.1% compared to HK$349.9 million as of 31 December 2024[102]. - Total current liabilities without lease liabilities under HKFRS 16 were HK$ (201.8) million, a decrease of 33.0% from HK$ (301.5) million as of 31 December 2024[100]. - The Group's gearing ratio improved to 154.3% as of June 30, 2025, a decrease of 10.3% from 164.6% at the end of 2024[135]. - The ratio of total assets to total liabilities was 1.61 as of June 30, 2025, compared to 1.57 at the end of 2024[136]. Cash Flow - Cash inflow from operating activities for the six months ended 30 June 2025 was approximately HK$42.2 million, an increase of 4.5% from HK$40.4 million in 2024[95]. - Cash generated from operations for the first half of 2025 was HK$42,311,000, compared to HK$40,435,000 in the same period of 2024, indicating a year-on-year increase of about 4.6%[185]. - Net cash used in investing activities was HK$7,894,000, a decrease from HK$11,542,000 in 2024, reflecting a reduction of approximately 31%[186]. - The Group's cash and cash equivalents at the end of the period were HK$30,612,000, an increase from HK$27,421,000 in 2024, representing an increase of approximately 8%[186]. Compliance and Governance - The audit committee reviewed the financial statements and confirmed compliance with accounting principles and estimates[172]. - The company has complied with the Corporate Governance Code as set out in the Listing Rules during the period[174]. - The Company must continue to comply with its disclosure requirements under the Listing Rules as long as the circumstances necessitating such obligations exist[144][146].
FUTURE BRIGHT(00703) - 2025 - 中期财报