Financial Performance - The Group recorded a turnover of HK$232.6 million for the six months ended June 30, 2023, representing a significant increase of 71.9% compared to HK$135.3 million in the same period of 2022[5]. - The profit attributable to owners of the Company was HK$24.3 million, a turnaround from a loss of HK$104.7 million in the same period of 2022[7]. - The gross margin increased to 73.9% with an EBITDA of HK$61.6 million, compared to a gross margin of 68.5% and an LBITDA of HK$60.9 million in the same period of 2022[17]. - The net ordinary operating profit was HK$24.3 million, a significant improvement from a net ordinary operating loss of HK$95.9 million in the same period of 2022[17]. - The profit before income tax for the period was HK$27,549,000, a turnaround from a loss of HK$110,240,000 in the same period last year[196]. - The profit for the period was HK$28,092,000, compared to a loss of HK$109,040,000 in the prior year, showcasing a strong recovery[196]. - Basic and diluted earnings per share increased to 3.50 HK cents, compared to a loss of 15.07 HK cents per share in the previous year[196]. Business Segments - The Group's food and catering business generated a profit of HK$18.2 million, while the food souvenir business contributed HK$4.1 million and the property investment business added HK$4.0 million to the profit[8]. - The Group's industrial catering business recorded a total turnover of approximately HK$10.6 million, an increase of about 21.8% from HK$8.7 million in the same period of 2022[21]. - The food wholesale business declined, recording a turnover of approximately HK$5.9 million, a decrease of about 7.8% from HK$6.4 million in the same period of 2022[21]. - The food souvenir business achieved a total turnover of HK$32.6 million, a substantial increase from HK$5.3 million in the same period of 2022[25]. - The food and catering business contributed HK$18.2 million to the profit, while the food souvenir and property investment businesses contributed HK$4.1 million and HK$4.0 million, respectively[79][80]. Visitor Arrivals - Visitor arrivals to Macau surged to 11,645,877, marking a significant increase of 236.1% compared to 3,465,107 visitors in the same period of 2022[19]. - The increase in turnover was mainly attributed to the rise in visitor arrivals in Macau and Hong Kong during the Period[35]. - The total number of visitors to Macau increased significantly to 11,645,877, a rise of 236.1% compared to 3,465,107 in the same period of 2022[22]. Operational Efficiency - The Group's same store performance improved by 110.8% in the restaurant and industrial catering business, and by 579.2% in the food souvenir business compared to the same period of 2022[17]. - The Group's turnover ratio for EBITDA improved to 26.5% in 2023 from (45.0)% in 2022, indicating enhanced operational efficiency[78]. - The Group's central kitchen in Hong Kong and logistic processing center in Macau are enhancing operational efficiency for restaurants and food court counters[138]. Financial Position - The total assets amounted to HK$946.9 million as of June 30, 2023, a slight decrease of 0.3% from HK$949.9 million at the end of 2022[5]. - The gearing ratio improved to 182.9%, down from 212.6% in the previous year, indicating a reduction in financial leverage[5]. - The cash inflow from operating activities for the period was approximately HK$56.5 million, a turnaround from a cash outflow of HK$37.2 million in the same period of 2022[101]. - As of June 30, 2023, the Group's net current liabilities were approximately HK$136.8 million, impacted by lease liabilities of approximately HK$42.0 million[103]. - The Group's net assets increased by 9.6% to approximately HK$324.1 million as of June 30, 2023, compared to HK$295.5 million as of December 31, 2022[111]. Future Outlook - Management remains optimistic about the operating environment despite challenges such as intense competition and rising operating costs[29]. - The Group plans to open 3 food court counters in Macau International Airport and 3 in Lisboeta Macau in the second half of 2023[20]. - The overall financial performance reflects a strategic recovery and growth in core business segments, positioning the Group for future expansion[82].
FUTURE BRIGHT(00703) - 2023 - 中期财报