Financial Performance - The Group's total revenue increased by approximately S$9.5 million or 14.6% from approximately S$65.3 million in FY2021 to approximately S$74.8 million in FY2022, driven by higher sales of nuts and chips in Singapore and Malaysia [17]. - The Group's total gross profit rose by approximately S$0.3 million or 1.6% from approximately S$17.7 million in FY2021 to approximately S$18.0 million in FY2022, with a gross profit margin decreasing from approximately 27.1% to 24.0% [17]. - The Group's profit for the year increased by approximately S$2.4 million or 69.9% from approximately S$3.4 million in FY2021 to approximately S$5.8 million in FY2022 [17]. - The Group's gross profit for the year ended December 31, 2022, was S$17,964,773, with a gross profit margin of 24.0% [36][40]. - Profit for the year ended December 31, 2022, was S$5,815,266, representing a profit margin of 7.8% [36][40]. - The Group's total revenue for the year ended 31 December 2022 was S$74.8 million, with nuts generating S$50.8 million and chips generating S$21.7 million [50]. - The Group's cost of sales increased by approximately S$9.2 million or 19.4% from approximately S$47.6 million for the year ended December 31, 2021, to approximately S$56.8 million for the year ended December 31, 2022 [79]. - Other income increased by approximately S$1.8 million or 513.1% from approximately S$0.3 million for the year ended December 31, 2021, to approximately S$2.1 million for the year ended December 31, 2022 [85]. Market and Demand Trends - The Group expects strong demand for snack products, particularly those with less sugar, as health awareness among consumers increases [23]. - The Group expects strong demand for healthier snack options, particularly those with lower sugar and artificial sweeteners, driven by increasing consumer health awareness [27]. - The global snack food market, including nuts and chips, is expected to grow at approximately 2.7% annually until 2027 [75]. - The Group anticipates improvements in external demand and regional economic growth, particularly in the PRC, which may positively impact sales in 2023 [66]. Dividend and Shareholder Value - No dividend has been recommended for FY2022 due to the uncertain macroeconomic outlook [26]. - The Board resolved not to recommend any final dividend for the year ended December 31, 2022, despite the company being profitable [129]. - The Group's dividend policy remains unchanged, with the Board planning to assess dividend recommendations in the next financial period [199]. Financial Position and Equity - Total equity as of December 31, 2022, was S$68,400,285, an increase from S$61,791,537 in 2021 [37]. - The current ratio improved to 7.1 as of December 31, 2022, compared to 4.5 in 2021 [40]. - The Group's non-current assets increased to S$27,371,556 as of December 31, 2022, from S$25,958,207 in 2021 [37]. - Bank and other borrowings decreased to approximately S$2.9 million as at December 31, 2022 from approximately S$3.8 million as at December 31, 2021 [101]. Management and Operations - The Group has been accredited with various certifications related to quality management and food safety, ensuring compliance with legal requirements [44]. - The Group's sales strategy includes strict quality assurance procedures and compliance with food safety regulations, supported by various certifications [46]. - The company is focused on maintaining close relationships with suppliers and customers to enhance operational efficiency and market presence [146]. - The company is committed to leveraging technology and improving operational efficiency through experienced leadership in IT and production management [173]. Employee and Staffing - The company incurred staff costs of approximately S$11.7 million for the year ended December 31, 2022, compared to S$10.2 million for the previous year [137]. - The company had 311 employees as of December 31, 2022, an increase from 271 employees in the previous year [137]. Future Outlook - Singapore's GDP growth for 2023 is forecasted to be between 0.5% and 2.5% [23]. - The Singapore economy grew by 3.6% in 2022, moderating from 8.9% growth in 2021, with a forecasted GDP growth for 2023 between 0.5% and 2.5% [64][65].
TS WONDERS(01767) - 2022 - 年度财报