Financial Performance - The Group's revenue for the Relevant Period was $7.2 million, an increase of $1.9 million or 35.3% compared to $5.3 million in the Previous Period[12] - The Group's profit for the Relevant Period was $244,000, up from a profit of $33,000 in the Previous Period[12] - Gross profit for Q2 2023 was $1.967 million, compared to $1.229 million in Q2 2022, reflecting a significant increase[14] - Total revenue for Q2 2023 was $7,189,000, an increase of 35.2% compared to $5,315,000 in Q2 2022[38] - Segment profit for Q2 2023 reached $1,967,000, up 60.2% from $1,229,000 in Q2 2022[40] - Profit attributable to Shareholders was $244,000 in the Relevant Period, a significant increase of 639.4% from $33,000 in the Previous Period[106] - The company reported a net profit of MYR 10 million for Q2 2023, a 20% increase from MYR 8.33 million in Q2 2022[192] Dividends and Earnings - The Board has resolved not to declare any dividend for the Relevant Period[12] - The Group did not declare any dividends for Q2 2023, consistent with Q2 2022[55] - Basic earnings per share for Q2 2023 was $0.03, compared to less than $0.01 in Q2 2022[55] Assets and Liabilities - Total assets as of March 31, 2023, were $19.038 million, slightly down from $19.176 million as of September 30, 2022[16] - Total equity attributable to shareholders increased to $16.619 million from $16.375 million[16] - Current liabilities decreased to $1.179 million from $1.549 million[16] - Trade receivables as of March 31, 2023, amounted to $2,313,000, up from $2,199,000 as of September 30, 2022[59] - Trade payables as of March 31, 2023, were $550,000, down from $795,000 as of September 30, 2022[73] Cash Flow and Financial Health - The Group's cash and cash equivalents increased to $1.072 million from $807,000[16] - The net cash generated from operating activities for Q2 2023 was $436,000, a significant improvement compared to a cash outflow of $1,180,000 in Q2 2022[19] - The net increase in cash and bank balances for Q2 2023 was $265,000, contrasting with a decrease of $2,759,000 in the same period last year[19] - Cash and bank balances as of March 31, 2023, were $1.1 million, up from $0.8 million as of September 30, 2022[109] - The current ratio as of March 31, 2023, was 3.7 times, compared to 2.8 times as of September 30, 2022[108] - As of March 31, 2023, the Group had a gearing ratio of 2%, a decrease from 5% as of September 30, 2022[121] - The Group had no outstanding interest-bearing bank loans as of March 31, 2023, compared to an outstanding loan of $9,000 as of September 30, 2022[123] Operational Insights - The Group's principal activity remains the supply of tissue products to corporate customers in Singapore, with a focus on tissue and hygiene-related products[31] - The company provides comprehensive services for tissue products, including sourcing, quality control, and delivery[77] - The company upgraded its conversion line for the production of jumbo roll tissues, completing the upgrade successfully[144] - The commercial production of jumbo roll tissues has commenced using the upgraded conversion line[144] - The factory extension has been completed, and lifting equipment has been purchased as part of the expansion strategy[144] Market and Strategic Outlook - The company is optimistic about achieving sustainable growth and is committed to delivering greater returns to shareholders[95] - The company provided an optimistic outlook for FY2023, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[188] - Market expansion plans include entering two new Southeast Asian countries by the end of FY2023, which is anticipated to increase market share by 15%[188] - The company is considering strategic acquisitions to bolster its product offerings and market presence, with a budget of up to HKD 50 million allocated for potential deals[188] Governance and Compliance - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of Chairman and Chief Executive Officer being held by the same individual[177] - The Audit Committee consists of three independent non-executive Directors, who have reviewed the unaudited condensed consolidated financial statements for the Relevant Period[178] - The company has entered into a Deed of Non-competition with its Controlling Shareholders to avoid any business competition[167] Employee and Talent Management - Total employee costs, including Directors' remuneration, were $1.2 million for the Relevant Period, up from $1.0 million in the previous period[131] - The Group employed a total of 33 employees as of the end of the Relevant Period, an increase from 26 employees in the previous period[131] - Short-term employee benefits for key management personnel were $553,000 in Q2 2023, compared to $482,000 in Q2 2022[75] - The board approved a new remuneration scheme aimed at retaining key talent, which is expected to increase operational efficiency by 5%[194]
日光控股(08451) - 2023 - 中期财报