Financial Performance - The group's revenue increased by 8.5% to HKD 2,920,775,000 compared to HKD 2,692,460,000 in the previous fiscal year[27] - Gross profit rose by 9.7% to HKD 1,334,677,000, with a gross margin of 45.7% compared to 45.2% in the previous year[28] - Profit attributable to equity holders was HKD 220,822,000, down from HKD 254,918,000 in the previous year, which included HKD 70,999,000 from the government's employment support scheme[28] - Total operating expenses for the year were HKD 1,102,666,000, accounting for 37.8% of total revenue, down from 38.9% in 2020/21[73] - Retail sales revenue reached HKD 2,892,753,000, an increase of 8.0% from HKD 2,677,789,000 in 2020/21, representing 99.0% of total revenue[78] - The profit in the Hong Kong market for the year was HKD 213,681,000, down from HKD 241,092,000 in 2020/21, which included government wage subsidies of HKD 70,999,000[83] - Revenue from the Hong Kong market increased by 9.3% to HKD 2,608,532,000, with same-store sales growth of 6.7%[82] - In Singapore, revenue grew by 2.7% to HKD 265,698,000, with gross profit increasing by 7.6% to HKD 110,686,000, compared to HKD 258,788,000 and HKD 102,914,000 respectively in 2020/21[85] Dividends - The board proposed a final dividend of HKD 0.12 per share, totaling an annual dividend of HKD 0.267 per share, up from HKD 0.242 in the previous year[29] - The total dividend for the year was HKD 26.7 cents per share, up from HKD 24.2 cents per share in 2020/21, with a total payout of approximately HKD 191,784,000[90] - The interim and special dividends were HKD 10.5 cents and HKD 4.2 cents per share respectively, totaling around HKD 105,623,000[90] Market Performance - Same-store sales growth in Hong Kong was 6.7%, compared to 4.4% in the previous year[30] - The group continued to achieve profitability in its three major markets: Hong Kong, Singapore, and Macau[29] - Revenue from the Macau market was HKD 46,545,000, slightly down from HKD 47,320,000 in 2020/21, indicating stable performance[84] - Hong Kong continues to be the company's primary market, accounting for 89.3% of total revenue, up from 88.6% in 2020/21[83] Cash and Assets - Cash and cash equivalents stood at HKD 416,923,000, slightly down from HKD 428,459,000 in the previous year[30] - Total assets increased to HKD 1,738,760,000 from HKD 1,737,618,000 in the previous year[30] - The group's total borrowings amounted to HKD 21,767,000 as of April 30, 2022, compared to HKD 19,078,000 in the previous year, with a leverage ratio of 3.2%[69] - The group maintained a current ratio of 1.5, consistent with the previous year[69] Business Strategy and Development - The company aims to transform into a full-channel retail chain convenience store (GMS) to enhance customer convenience and increase foot traffic[62] - The company has expanded its product offerings to include fast-moving consumer goods, such as food and personal care items[49] - The company is focusing on the development of OEM products to expand market penetration and enhance revenue contribution[62] - The company has established a strong partnership with major third-party e-commerce operators like foodpanda mall and Yoho to stimulate e-commerce business[62] - The company plans to offer a wider range of durable and large items through its electronic platform to create a one-stop shopping experience[63] - The company is focused on monitoring procurement prices and controlling operating expenses to maintain profitability[83] - The company aims to explore new business opportunities and expand into new markets, leveraging established personal relationships and networks[103] Employee and Management - The group employed approximately 2,140 staff as of April 30, 2022, down from 2,391 staff in the previous year, with total employee costs of HKD 405,825,000[77] - The company is committed to maintaining a dedicated employee team to ensure operational success and prepare for new initiatives and challenges[63] - The management team includes experienced professionals with over 25 years in retail management and over 20 years in consumer goods and beauty industry management[121][122] Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring over one-third independence[174] - The company aims to ensure effective corporate governance through regular training and updates for all directors[181] - The audit committee is responsible for recommending the appointment and remuneration of external auditors, ensuring their independence and effectiveness[189] - All independent non-executive directors have confirmed their independence according to the relevant listing rules[175] Shareholder Information - The company reported a total equity of 346,320,000 shares, representing 47.90% ownership by Mr. Liu Baifai as of April 30, 2022[125] - Ms. Wei Lixia holds a total equity of 357,426,000 shares, which accounts for 49.44% ownership, including 21,970,000 personal shares and 324,000,000 shares through controlled corporations[125] - The company has a total of 722,969,000 shares issued as of April 30, 2022, which is the basis for calculating the ownership percentages[125] Related Party Transactions - The company has not entered into any significant transactions with related parties during the year, aside from those disclosed in the annual report[155] - The company has confirmed that the ongoing related party transactions are conducted on normal commercial terms and are fair and reasonable[162] - The independent auditor has issued an unqualified opinion on the group's ongoing related party transactions as disclosed in the annual report[162]
国际家居零售(01373) - 2022 - 年度财报