Financial Performance - Revenue for the six months ended June 30, 2022, was SGD 53,988,000, representing a 50.1% increase from SGD 35,971,000 in the same period of 2021[3] - Gross profit for the six months ended June 30, 2022, was SGD 4,834,000, up 23.2% from SGD 3,925,000 in the prior year[3] - Operating profit for the six months ended June 30, 2022, increased to SGD 1,687,000, a 52.0% rise compared to SGD 1,109,000 in 2021[3] - Net profit for the six months ended June 30, 2022, was SGD 1,349,000, compared to SGD 823,000 in the same period of 2021, marking a 63.9% increase[3] - Basic and diluted earnings per share for the six months ended June 30, 2022, were SGD 0.22, compared to SGD 0.14 in the same period of 2021[5] - The company reported a total comprehensive income of SGD 1,363,000 for the six months ended June 30, 2022, compared to SGD 808,000 in the prior year[5] - For the six months ended June 30, 2022, the company reported a pre-tax profit of SGD 1,679,000, an increase of 56.3% compared to SGD 1,074,000 in the same period of 2021[14] - Profit for the six months ended June 30, 2022, was approximately SGD 1.35 million, an increase of approximately SGD 526,000 or 63.9% from SGD 823,000 for the same period in 2021[66] Assets and Liabilities - Total assets as of June 30, 2022, were SGD 31,754,000, a decrease from SGD 34,124,000 as of December 31, 2021[7] - Total liabilities as of June 30, 2022, were SGD 13,644,000, down from SGD 18,110,000 at the end of 2021[7] - Equity attributable to owners of the company increased to SGD 18,753,000 as of June 30, 2022, from SGD 17,390,000 at the end of 2021[9] - Trade receivables as of June 30, 2022, amounted to SGD 18,551, an increase from SGD 17,668 as of December 31, 2021[40] - The company's total other payables and accrued expenses were SGD 4,314,000 as of June 30, 2022, compared to SGD 4,370,000 as of December 31, 2021[47] Cash Flow - Operating cash flow before changes in working capital was SGD 2,070,000, up 33.1% from SGD 1,554,000 year-on-year[14] - The net cash flow from operating activities was SGD 2,426,000, a significant recovery from a net outflow of SGD 3,934,000 in the previous year[14] - Total cash and cash equivalents at the end of the period increased to SGD 12,604,000 from SGD 14,970,000 in the previous year, reflecting a net increase of SGD 2,109,000[15] - Cash and bank balances as of June 30, 2022, were approximately SGD 12.6 million, up from SGD 10.5 million as of December 31, 2021[69] Revenue Breakdown - Revenue from human resource outsourcing services for the six months ended June 30, 2022, was SGD 53,518,000, a 50.5% increase from SGD 35,545,000 in the same period of 2021[28] - The company’s revenue from human resource recruitment services reached SGD 450,000, up 12.5% from SGD 400,000 year-on-year[28] - Client A generated revenue of SGD 22,382,000 for the six months ended June 30, 2022, compared to SGD 5,721,000 in the same period of 2021, marking a substantial increase of 292.5%[27] - Total service revenue for the six months ended June 30, 2022, was SGD 37,000, a decrease of 15.9% compared to SGD 44,000 for the same period in 2021[30] Expenses - Service costs increased by approximately SGD 17.2 million or 53.8% to SGD 49.2 million for the six months ended June 30, 2022, compared to SGD 32.0 million for the same period in 2021[59] - Total employee costs increased to SGD 51,461 for the six months ended June 30, 2022, up 51.4% from SGD 34,068 in the same period of 2021[31] - Administrative expenses rose by approximately 8.7% to SGD 3.23 million for the six months ended June 30, 2022, compared to SGD 2.97 million for the same period in 2021[62] - Other income decreased by approximately SGD 71,000 or 45.8% to SGD 84,000 for the six months ended June 30, 2022, primarily due to reduced service income and foreign exchange gains[61] Strategic Plans and Market Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[3] - The company is actively exploring new business opportunities and expanding its operations into neighboring countries despite a challenging global economic environment[55] - The management remains cautiously optimistic about the company's ability to navigate current challenges and achieve sustainable business growth[56] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[114] - New product launches are expected to contribute an additional HKD 100 million in revenue for the next fiscal year[114] Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[107] - The company has maintained its corporate governance practices in accordance with GEM listing rules, with no significant deviations reported[101] Shareholder Information - The group did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[35] - The company did not recommend any dividends for the six months ended June 30, 2022[67] - The board of directors has approved a dividend payout of HKD 0.05 per share, reflecting a commitment to returning value to shareholders[114]
中安控股集团(08462) - 2022 - 中期财报