Financial Performance - The group's revenue remained stable at HKD 1.31 billion for the six months ended October 31, 2021, compared to HKD 1.32 billion for the same period in 2020/21[8]. - Profit for the period was HKD 96.1 million, down from HKD 171.6 million in 2020/21, which included approximately HKD 92 million in COVID-19 related subsidies and rent reductions[8][15]. - Gross profit increased by 3.1% to HKD 616.4 million, compared to HKD 598.0 million in 2020/21[9]. - Total retail sales revenue reached HKD 1,305,512,000, a slight decrease from HKD 1,316,544,000 in the previous year, accounting for 99.3% of total revenue[22]. - Wholesale and franchise income increased to HKD 8,789,000, up from HKD 4,950,000 in the previous year[23]. - Revenue from the Hong Kong market was HKD 1,161,893,000, compared to HKD 1,189,855,000 in the previous year, representing 88.4% of total revenue[24]. - Singapore market revenue grew by 20.4% to HKD 129,682,000, up from HKD 107,688,000 in the previous year[25]. - Macau revenue recorded HKD 22,726,000, down from HKD 23,951,000 in the previous year[26]. - Operating profit decreased to HKD 119,470 thousand, down 40.3% from HKD 199,905 thousand in the previous year[36]. - The net profit for the period was HKD 96,104 thousand, a decline of 44.0% compared to HKD 171,567 thousand in the same period last year[36]. - Other income for the six months ended October 31, 2021, was HKD 29,509,000, down from HKD 99,446,000 in the same period of 2020[83]. - The profit attributable to the company's owners for the six months ended October 31, 2021, was HKD 95,141,000, a decrease of 43.7% from HKD 169,385,000 for the same period in 2020[87]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.105 per share and a special dividend of HKD 0.042 per share, representing a 63% increase from the interim dividend of HKD 0.09 per share in 2020/21[10]. - The company paid dividends amounting to HKD 109,038,000 during the period, compared to HKD 78,983,000 in the previous year, representing an increase of 38.3%[47]. - The interim and special dividends declared on December 23, 2021, were HKD 10.5 cents and HKD 4.2 cents per share, totaling approximately HKD 105,600,000, an increase from HKD 64,500,000 in 2020/21[90]. Store Operations and Expansion - The company maintained a total of 385 stores globally as of October 31, 2021, unchanged from the previous year[10]. - The company plans to continue expanding its physical store network in Hong Kong, particularly in newly developed residential areas and public housing projects[30]. - The company plans to enhance its product offerings by increasing the variety of fast-moving consumer goods and OEM products, as well as expanding its private label product range[14]. - The company continues to explore new product categories, including food and smart living products, to adapt to market trends and customer demands[28]. - The company aims to enhance its online presence by integrating its ERP system and collaborating with leading e-commerce platforms to expand its online business[29]. Financial Position and Ratios - The group's cash and cash equivalents stood at HKD 430.6 million as of October 31, 2021, compared to HKD 428.5 million on April 30, 2021[16]. - The current ratio of the group was 1.5 as of October 31, 2021, consistent with the previous period[16]. - The group's leverage ratio increased to 3.3% from 2.9% as of April 30, 2021, calculated based on total borrowings and non-controlling interest loans divided by total equity[16]. - The total assets of the group as of October 31, 2021, amounted to HKD 1,742,830 thousand, a slight increase from HKD 1,737,618 thousand as of April 30, 2021[41]. - The total liabilities increased to HKD 860,300 thousand from HKD 844,322 thousand in the previous period[41]. - The total equity attributable to equity holders increased to HKD 874,817,000 as of October 31, 2021, from HKD 862,013,000 a year earlier[44]. Employee and Management Costs - Employee costs for the period totaled HKD 187,603,000, slightly up from HKD 184,889,000 in the previous year[18]. - The total management compensation for the six months ended October 31, 2021, was HKD 7,579,000, a decrease from HKD 8,152,000 in the previous year[117]. - Employee service value recognized was HKD 1,282,000, while share-based payment expenses totaled HKD 3,489,000[44]. Corporate Governance and Compliance - The company has adopted all provisions of the corporate governance code as per the listing rules, emphasizing the importance of good corporate governance practices[148]. - The board of directors has reviewed and monitored the company's corporate governance practices to ensure compliance with the corporate governance code[148]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the period[149]. - The company has confirmed compliance with the standard code of conduct for securities transactions by all directors during the period[150]. Financial Risks and Management - The group has incurred various financial risks, including foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk, with no significant changes in risk management policies since the last financial year-end[60]. - The group’s financial risk management procedures focus on reducing potential adverse impacts on financial performance due to market unpredictability[60]. - The group is currently evaluating the impact of new accounting standards and interpretations on its financial statements[58]. Share Incentive Plans - The company has granted options for a total of 3,525,000 shares under the share option plan as of October 31, 2021[133]. - The share option plan allows for a maximum of 10% of the total issued shares to be granted, equating to 72,000,000 shares[130]. - The company aims to retain and attract suitable personnel through the share incentive plan[145].
国际家居零售(01373) - 2022 - 中期财报