Financial Performance - For the six months ended June 30, 2025, the company reported revenue of SGD 5,826,000, a decrease of 21.2% compared to SGD 7,392,000 for the same period in 2024[7] - Gross profit for the same period was SGD 4,112,000, down 21.5% from SGD 5,246,000 in 2024[7] - The company recorded a loss before tax of SGD 825,000, compared to a loss of SGD 796,000 in the previous year, indicating a 3.6% increase in losses[7] - The net loss attributable to equity holders for the period was SGD 835,000, slightly higher than the SGD 804,000 loss in 2024[7] - The company reported a basic and diluted loss per share of SGD 0.17, compared to SGD 0.16 in the previous year[7] - The group recorded a pre-tax loss of SGD 825,000 for the six months ended June 30, 2025, compared to a loss of SGD 796,000 in the same period of 2024[20] - The basic loss per share for the six months ended June 30, 2025, was SGD 0.17, compared to SGD 0.16 for the same period in 2024[25] - The group recorded a loss of approximately SGD 0.8 million for the six months ended June 30, 2025, consistent with the loss for the same period in 2024, primarily due to a decline in revenue from the closure of underperforming stores[45] Revenue Breakdown - The restaurant business generated external customer revenue of SGD 3,685,000, down 28.3% from SGD 5,141,000 in the previous year[18] - The bakery segment reported external customer revenue of SGD 2,141,000, a decrease of 4.9% from SGD 2,251,000 in 2024[19] - Revenue decreased by approximately SGD 1.6 million or 21.6% to SGD 5.8 million for the six months ended June 30, 2025, primarily due to the closure of underperforming restaurants in Singapore[38] Assets and Liabilities - Total assets as of June 30, 2025, amounted to SGD 8,912,000, an increase from SGD 8,646,000 at the end of 2024[8] - Current liabilities increased to SGD 12,689,000 from SGD 11,197,000, reflecting a rise of 13.4%[8] - Non-current assets increased to SGD 7,447,000 from SGD 6,883,000, representing an 8.2% growth[8] - The group's current liabilities net value increased to approximately SGD 11.2 million as of June 30, 2025, compared to SGD 9.4 million as of December 31, 2024, resulting in a current ratio of approximately 0.12[46] - The group had interest-bearing bank borrowings and overdrafts of approximately SGD 3.1 million as of June 30, 2025, unchanged from December 31, 2024[47] - The capital debt ratio improved to (44.9)% as of June 30, 2025, from (50.7)% as of December 31, 2024[48] Cash Flow and Management - The company's cash and cash equivalents decreased to SGD 221,000 from SGD 534,000, a decline of 58.7%[8] - Cash flow management remains a core focus, with the group adopting a prudent scaling-back strategy to address liquidity pressures[37] - As of June 30, 2025, the group held cash and cash equivalents of approximately SGD 0.2 million, down from SGD 0.5 million as of December 31, 2024[46] Operational Changes - Employee costs for the group were SGD 2,090,000, down 30.5% from SGD 3,008,000 in the previous year[20] - Employee benefits expenses decreased by approximately SGD 0.9 million or 30.0% to SGD 2.1 million, mainly due to a reduction in operating outlets[43] - Other expenses decreased by approximately SGD 0.2 million or 20.0% to SGD 0.8 million, driven by a reduction in the number of operating outlets and cost-cutting measures implemented by management[44] - As of June 30, 2025, the group operated 4 restaurants in Singapore and 16 bakeries in Malaysia, following the closure of 6 underperforming restaurants and 2 loss-making bakeries[36] - The group is focused on enhancing the performance, operational efficiency, and profitability of existing outlets, with an emphasis on cost control and menu optimization[36] Regulatory Compliance and Governance - The group did not declare any interim dividends for the six months ended June 30, 2025, consistent with the previous year[23] - The group did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the previous period[56] - The group maintained compliance with the GEM listing rules regarding public float as of the announcement date[61] - The announcement is made in compliance with the GEM listing rules of the Hong Kong Stock Exchange[65] - The board of directors includes both executive and independent non-executive members[65] - The directors confirm the accuracy and completeness of the information provided in the announcement[65] - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days[65] - The company's website will also host the announcement for public access[65] - The directors are collectively and individually responsible for the content of the announcement[65] - There are no misleading or fraudulent elements in the information disclosed[65] - The announcement aims to provide relevant information about the company[65] - The company has conducted reasonable inquiries to ensure the accuracy of the information[65] - The announcement is part of the company's commitment to transparency and regulatory compliance[65] Other Financial Metrics - Depreciation of property, plant, and equipment was SGD 322,000 for the six months ended June 30, 2025, compared to SGD 258,000 in 2024[20] - Depreciation of property, plant, and equipment increased by approximately SGD 0.06 million or 23.1% to SGD 0.32 million, due to acquisitions made during the reporting period[41] - The group received government grants totaling SGD 13,000 during the reporting period, down from SGD 56,000 in the previous year[19] - Other income fell by approximately SGD 0.04 million or 66.7% to SGD 0.02 million, attributed to a decrease in claims under the Singapore government wage subsidy scheme[40] - Cost of goods sold decreased by approximately SGD 0.4 million or 19.0% to SGD 1.7 million for the same period, aligning with the revenue decline[39] Risk Factors - The group faced foreign exchange risk due to sales and purchases denominated in currencies other than its functional currency, with no current hedging policies in place[50] - As of June 30, 2025, the group had no contingent liabilities[51]
聚利宝控股(08527) - 2025 - 中期业绩