Financial Performance - Adjusted net profit decreased by approximately HKD 8,754,000 or 21.0%, and profit attributable to owners decreased by approximately HKD 11,303,000 or 25.2% in Q3 2023[2] - In Q3 FY2023, the total revenue reached HKD 527,515,000, representing a 6.0% increase compared to Q3 FY2022[33] - Revenue growth was influenced by the operation of restaurants opened in FY2022, despite the impact of dining restrictions[45] - The company reported a profit attributable to owners of HKD 17,043,000 for the three months ended December 31, 2022, compared to HKD 18,346,000 for the same period in 2021, reflecting a decrease of 7.1%[55] - Total comprehensive income attributable to owners for the three months ended December 31, 2022, was HKD 17,281,000, down from HKD 18,527,000 in the previous year, indicating a decline of 6.7%[55] - The total revenue for the nine months ended December 31, 2022, was HKD 50,120,000, an increase from HKD 44,812,000 in the same period of 2021, marking a growth of 11.5%[55] - Basic earnings per share for the nine months ended December 31, 2022, was HKD 13.0, compared to HKD 11.6 for the same period in 2021, reflecting a growth of 12.1%[62] - The company reported a total comprehensive income for the nine months ended December 31, 2022, of HKD 48,202,000, up from HKD 42,194,000 in the previous year, indicating a growth of 14.2%[55] - Revenue for the three months ended December 31, 2022, was HKD 192,029,000, an increase of 5.8% compared to HKD 182,445,000 for the same period in 2021[70] - Net profit for the three months ended December 31, 2022, was HKD 17,441,000, up 4.7% from HKD 16,664,000 in the previous year[70] Employee Costs - Employee costs increased by approximately 15.6% in Q3 2023 compared to Q3 2022, with employee costs as a percentage of revenue rising from 27.7% to 29.6%[1] - Employee costs increased by 15.6% to HKD 156,152,000, up from HKD 137,707,000, representing 29.6% of total revenue[51] - Employee costs for the three months ended December 31, 2022, were HKD 51,736,000, representing a rise of 3.6% from HKD 49,935,000 in the same period of 2021[70] Operational Metrics - The average daily revenue per restaurant in Q3 2023 was slightly above the benchmark set in June 2020, despite lower revenues in April 2022 due to government restrictions[17] - Customer visits totaled 2,219,370, a decrease of 123,209 visits or 5.3% from Q3 FY2022, primarily due to the government's dining restrictions[30] - Average spending per customer increased from HKD 212.4 in Q3 FY2022 to HKD 237.7 in Q3 FY2023[30] - The number of operating restaurants at the end of Q3 FY2023 was 41, unchanged from the previous quarter[37] - The company opened six new restaurants in the third quarter of FY2023, including locations in Mong Kok, Tung Chung, Tsim Sha Tsui, Megabox, Tsuen Wan, and Sha Tin[85] - The total number of restaurants as of December 31, 2022, was 38, an increase from 34 as of March 31, 2022[88] Costs and Expenses - The cost of materials and consumables rose by approximately 4.4%, maintaining a stable percentage of 29.7% of revenue[35] - The company incurred finance costs of HKD 7,779,000, which is 1.5% of total revenue, up from HKD 6,937,000 in the previous year[51] - The company's operating expenses related to property rent and associated costs grew by approximately 15.5% due to more restaurants being operational[95] - Depreciation of property, plant, and equipment rose by 28.2% to HKD 21,304,000, compared to HKD 16,624,000, accounting for 4.0% of total revenue[51] - The percentage of property rent and related expenses to revenue increased from 5.3% to 5.8% due to government restrictions on dine-in services[95] - Other expenses amounted to approximately HKD 28.71 million, an increase of about 10.4% compared to the previous year, maintaining a stable percentage of about 5.4% of revenue[107] Financial Position - As of December 31, 2022, cash and cash equivalents amounted to HKD 113,700,000, primarily denominated in HKD, with no significant foreign exchange risk anticipated in the next 12 months[4] - The company has no significant contingent liabilities as of December 31, 2022[5] - The company has no major or contingent liabilities as of December 31, 2022, indicating a stable financial position[5] - The company has no bank borrowings as of December 31, 2022, indicating a net cash position[109] Corporate Governance - The board of directors confirmed compliance with trading standards as of December 31, 2022[13] - The audit committee, responsible for reviewing financial reporting and internal controls, consists of independent non-executive directors[118] - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[117] - The company has not engaged in any arrangements that would allow directors to benefit from acquiring shares or debentures of the company[124] - The company has not disclosed any interests or short positions in shares that require notification under the Securities and Futures Ordinance[126] Strategic Focus - The company aims to enhance food quality and provide the best service, emphasizing value for money as a key to success during challenging times[19] - The company is focused on expanding its market presence and enhancing operational efficiency through strategic cost management and investment in new technologies[59] - The company is focused on expanding its restaurant network while managing operational costs effectively[95] - The company has committed to four new leases and is in discussions for potential new locations in Hong Kong and China[120] - The company decided not to renew leases for two underperforming restaurants to optimize employee allocation and increase profitability per employee[85] Shareholder Information - Major shareholders Mr. Huang and Ms. Chen each hold 68.776% equity in the company, totaling 260,302,000 shares[112] - The company has a total of 9,984,000 shares held by its major shareholders, which are considered as their equity[122] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2022[127]
尝高美集团(08371) - 2023 Q3 - 季度财报