Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 53,084,000, an increase of 18.5% compared to HKD 44,684,000 for the same period in 2021[8] - Revenue for the nine months ended December 31, 2022, reached HKD 124,238,000, up 36% from HKD 91,411,000 in the previous year[8] - The profit before tax for the three months ended December 31, 2022, was HKD 3,093,000, a decrease of 60.5% compared to HKD 7,816,000 in the same period of 2021[8] - The total comprehensive income for the three months ended December 31, 2022, was HKD 2,992,000, down 60.7% from HKD 7,606,000 in the same period of 2021[8] - Basic and diluted earnings per share for the three months ended December 31, 2022, were HKD 0.31, compared to HKD 0.84 for the same period in 2021[8] - The company reported a profit before tax of HKD 4,809,000 for the nine months ended December 31, 2022, compared to HKD 4,054,000 for the same period in 2021, marking an increase of 18.6%[30][31] - The operating profit for the nine months ended December 31, 2022, was HKD 6,267,000, up from HKD 5,322,000 in the same period of 2021, reflecting an increase of 17.8%[30][31] - Total revenue for the nine months ended December 31, 2022, was HKD 124,238,000, compared to HKD 91,411,000 for the same period in 2021, indicating a growth of 36%[30][31] Costs and Expenses - The cost of goods sold for the three months ended December 31, 2022, was HKD 13,820,000, representing an increase of 10.3% from HKD 12,534,000 in the same period of 2021[8] - The company incurred financing costs of HKD 3,330,000 for the nine months ended December 31, 2022, compared to HKD 2,999,000 for the same period in 2021, which is an increase of 11%[35][36] - The company reported a total depreciation expense of HKD 30,797,000 for the nine months ended December 31, 2022, compared to HKD 21,785,000 for the same period in 2021, indicating a significant increase of 41.3%[35][36] - Other operating expenses increased by 24.7% to HKD 22.2 million from HKD 17.8 million in the previous period, due to the operation of more bars and restaurants[63] - Financing costs rose to HKD 3.3 million, a 10.0% increase from HKD 3.0 million in the previous period, mainly due to rising borrowing rates[64] Assets and Liabilities - The total liabilities of the company as of December 31, 2022, were HKD 21,498,000, an increase from HKD 16,951,000 as of April 1, 2022[10] - As of December 31, 2022, the company had cash and cash equivalents of HKD 2.9 million, up from HKD 2.1 million as of March 31, 2022[76] - The company's debt-to-equity ratio improved to 741% from 911% in the previous period, indicating a stronger capital structure[76] Market and Operational Impact - The group reported a significant impact on operations due to COVID-19 restrictions, with no revenue generated from bar operations between April 1 and May 18, 2022[13] - The group’s financial performance is closely tied to the operational status of its bars, which have faced significant restrictions due to government measures[13] - The company has recognized COVID-19 related rent concessions amounting to HKD 212,000 for the three months ended December 31, 2022[8] Future Plans and Strategies - The company plans to continue exploring market expansion opportunities and new product development to drive future growth[8] - The group plans to maintain its bank loan financing at levels comparable to the previous year and may sell properties to repay bank borrowings if necessary[19] - The group anticipates obtaining approximately HKD 21,100,000 in loans under the SME Financing Guarantee Scheme provided by the Hong Kong government[19] - Management is taking measures to improve liquidity and financial conditions amid ongoing uncertainties[17] Shareholding and Governance - Moment to Moment holds 431,543,700 shares, representing approximately 50.18% of the company's issued share capital[85] - The only shareholder of Moment to Moment is Harneys Trustees Limited, which acts as the trustee for the Pacific Bar Trust[85] - The total issued share capital of the company is 860,000,000 shares[92] - The company has established a governance framework to ensure transparency and accountability in its operations[94] - The company adopted and complied with all applicable corporate governance codes as per GEM Listing Rules until December 31, 2022[94] Compliance and Reporting - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the period and found them compliant with applicable accounting standards[102] - The company confirmed that all directors adhered to the trading compliance standards during the reporting period[95] - No significant events occurred between December 31, 2022, and the approval date of this report[103]
太平洋酒吧(08432) - 2023 Q3 - 季度财报