Financial Performance - Gross profit margin increased to 65.8%, up by 5.1 percentage points from 60.7%[4] - Net profit margin decreased to 7.3%, down by 21.9 percentage points from 29.2%[4] - Basic earnings per share dropped to 1.6 HKD, a decrease of 82.8% from 9.3 HKD[4] - The group recorded a net profit of approximately HKD 5,900,000, a significant decrease from HKD 34,100,000 in the previous year[17] - The group achieved a net profit of approximately HKD 5,900,000 (2021: HKD 34,100,000), primarily due to a significant decrease in property sale gains and over 50% drop in sales in Macau due to COVID-19[38] - The company reported a profit attributable to equity holders of HK$5,869,000, down from HK$34,065,000 in the previous year, reflecting a decrease of approximately 82.8%[52] - The adjusted profit before tax for the group was HKD 16,106,000, reflecting a decrease compared to the previous period[76] - The group reported a pre-tax profit of HKD 19,675 thousand for the six months ended September 30, 2022, compared to HKD 41,194 thousand in the same period of 2021, indicating a decline of 52.3%[95] Revenue and Sales - The retail business in Hong Kong and Macau saw a revenue decline of approximately 32.2% to about HKD 79,100,000, down from HKD 116,600,000 in the previous year[20] - For the six months ended September 30, 2022, the group's revenue decreased by approximately 31.3% to about HKD 80,200,000 (2021: HKD 116,700,000) with same-store sales growth worsening slightly to about -13% (2021: -11%) due to a reduction in offline retail network and sluggish sales atmosphere, particularly in Macau[27] - Total revenue for the six months ended September 30, 2022, was HK$80,161,000, down from HK$116,747,000 in the same period last year, representing a decrease of approximately 31%[52] - The group reported total revenue of HKD 80,161,000 for the six months ended September 30, 2022, with a significant contribution from the Hong Kong and Macau markets[76] Store Operations - Total number of stores in Hong Kong and Macau decreased to 33, down by 7 stores[4] - Total floor area of stores decreased to 67,956 square feet, a decline of 13.4% from 78,496 square feet[4] - The group reduced its number of self-operated stores from 43 to 42 as of September 30, 2022[16] - The group opened a new flagship store for its brand "SALAD" in Tsim Sha Tsui in September 2022, aiming to capture sales potential post-travel restrictions[21] - The group continues to focus on maintaining a profitable retail portfolio rather than expanding a large sales network[20] - The group has actively sought opportunities to open retail stores in more cost-effective locations[21] Cost Management - Core operating expenses were reduced by approximately 38.2% to about HKD 58,500,000 (2021: HKD 94,600,000) as the group actively restructured lease arrangements and reviewed store performance[32] - Employee costs decreased by approximately 25.4% to about HKD 21,200,000 (2021: HKD 28,400,000), with total employees reduced to 173 (March 31, 2022: 190) accounting for about 69.9% of core operating expenses[33] - Financing costs for the six months ended September 30, 2022, were HKD 499 thousand, significantly lower than HKD 2,233 thousand in the previous year, marking a decrease of 77.7%[91] Assets and Liabilities - As of September 30, 2022, the group's net asset value was approximately HKD 133,400,000 (March 31, 2022: HKD 188,200,000), with non-current assets at about HKD 65,300,000 (March 31, 2022: HKD 75,200,000)[41] - Cash and cash equivalents were approximately HKD 42,900,000 (March 31, 2022: HKD 108,500,000) with total bank financing of about HKD 10,100,000, of which approximately HKD 10,000,000 remained undrawn[42] - The total liabilities of the group were HKD 40,221,000, including tax payables and other undistributed liabilities[76] - The group has no significant capital commitments as of September 30, 2022[122] Dividends and Shareholder Information - The interim dividend declared for the six months ended September 30, 2022, is HKD 0.03 per share, an increase of 20% from HKD 0.025 per share in 2021[109] - The final dividend for the year ended March 31, 2022, was HKD 60,618,000, paid on September 5, 2022, compared to a total of HKD 170,832,000 in the previous year[154] - The record date for the interim dividend is expected to be December 21, 2022, with a suspension of share transfer registration from December 16 to December 21, 2022[154] Strategic Outlook - The company has a cautious optimism regarding retail performance in the second half of the fiscal year, anticipating a recovery in business activities as travel restrictions are expected to ease in Hong Kong and Macau[48] - The company plans to maintain optimal offline operations while developing online and other innovative sales channels to effectively capture target markets[48] Compliance and Governance - The company has maintained compliance with the corporate governance code as per the listing rules throughout the reporting period[156] - The audit committee has reviewed the accounting principles and practices adopted by the group, including the interim financial statements for the six months ended September 30, 2022[158] - All directors have complied with the standard code for securities transactions during the six months ended September 30, 2022[150]
包浩斯国际(00483) - 2023 - 中期财报