Financial Performance - For the six months ended June 30, 2023, the total revenue of the group was approximately SGD 31.1 million, a decrease of about 9.4% compared to SGD 34.3 million for the same period in 2022[11]. - Gross profit decreased from approximately SGD 6.3 million for the six months ended June 30, 2022, to approximately SGD 4.1 million for the same period in 2023, with the gross margin dropping from 18.3% to 13.1%[14]. - The net profit for the six months ended June 30, 2023, was approximately SGD 92,000, compared to SGD 1.3 million for the same period in 2022[18]. - Operating profit decreased significantly to 262 thousand SGD, compared to 1,982 thousand SGD in the previous year, reflecting a decline of 86.8%[51]. - The company reported a net loss of SGD 1,270,000 for the six months ended June 30, 2023, compared to a profit of SGD 1,269,000 in the same period of 2022[64]. - Basic and diluted earnings per share dropped to 0.0038 SGD for the six months ended June 30, 2023, compared to 0.064 SGD in 2022, a decline of 94.1%[78]. Revenue Breakdown - Revenue from cleaning services was SGD 31,078,000, down from SGD 34,272,000 in the previous year, reflecting a decline of 9.5%[65]. - Revenue from Singapore was SGD 27,597,000, a decrease from SGD 33,473,000 in the previous year, while revenue from Thailand increased to SGD 3,523,000 from SGD 865,000[66]. - The total revenue for the six months ended June 30, 2023, was SGD 31,120,000, a decrease of 9.5% compared to SGD 34,338,000 for the same period in 2022[65]. Cost and Expenses - The cost of sales for the same period was approximately SGD 27.1 million, down about 3.6% from SGD 28.1 million in the previous year[12]. - Employee benefit expenses rose to 20,401 thousand SGD in the first half of 2023, compared to 19,894 thousand SGD in 2022, an increase of 2.5%[73]. - Financial costs decreased to 109 thousand SGD for the six months ended June 30, 2023, down from 150 thousand SGD in 2022, a reduction of 27.3%[75]. - Income tax expense for Singapore was 61 thousand SGD for the six months ended June 30, 2023, significantly lower than 563 thousand SGD in the same period of 2022, a decrease of 89.2%[76]. Assets and Liabilities - As of June 30, 2023, the group's current assets were approximately SGD 50.0 million, including cash and cash equivalents of about SGD 11.5 million[19]. - Total assets as of June 30, 2023, were 42,431 thousand SGD, down 9.4% from 46,871 thousand SGD at the end of 2022[53]. - Current assets decreased to 37,820 thousand SGD from 42,499 thousand SGD, a decline of 11.0%[53]. - Total borrowings decreased to 4,820 thousand SGD as of June 30, 2023, from 5,762 thousand SGD as of December 31, 2022, a reduction of 16.3%[89]. - Trade receivables increased to 12,699 thousand SGD as of June 30, 2023, from 10,656 thousand SGD as of December 31, 2022, an increase of 19.1%[82]. Employee and Operations - As of June 30, 2023, the group employed approximately 2,223 employees, an increase from 1,904 employees as of December 31, 2022[31]. - The company has established a progressive salary scheme for employees in accordance with local regulations[33]. - The group aims to enhance productivity through investments in technology and training despite increasing competition in the Singapore environmental services industry[10]. Government Support and Subsidies - The group has confirmed government subsidies totaling approximately SGD 0.5 million for the six months ended June 30, 2023, down from SGD 1.9 million in the previous year[14]. Cash Flow and Dividends - The cash flow from operating activities for the first half of 2023 was negative SGD 1,818,000, compared to positive SGD 3,784,000 in the same period of 2022[57]. - The company paid dividends of SGD 2,000,000 during the first half of 2023[57]. Compliance and Governance - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2023, confirming compliance with applicable accounting principles[37]. - The company has maintained the required public float as per listing rules[41]. - The company maintained compliance with financial covenants throughout the reporting period[92]. Investments and Capital Expenditures - The company has not made any significant investments, acquisitions, or disposals during the reporting period[23]. - There were no significant capital expenditures incurred during the six months ended June 30, 2023, apart from those disclosed in the interim report[20].
HYGIEIA GROUP(01650) - 2023 - 中期财报