Financial Performance - The Group recorded an unaudited revenue of approximately HK$73.5 million for the three months ended 31 March 2023, representing an increase of approximately 94.1% compared to HK$37.8 million for the same period in 2022[15]. - The Group's unaudited profit for the period was approximately HK$4.7 million, a significant increase of approximately HK$16.4 million compared to a loss of approximately HK$11.8 million for the corresponding period in 2022[15]. - Earnings per share for the period was HK$0.43, compared to a loss per share of HK$0.87 for the same period in 2022, reflecting a turnaround in performance[15]. - The total comprehensive income attributable to owners of the Company was approximately HK$5.0 million, compared to a loss of HK$10.1 million for the same period in 2022[15]. - The company reported a profit of HK$4,988,000 for the period, recovering from a loss of HK$10,091,000 in the same quarter of 2022[17]. - Profit attributable to owners of the Company was approximately HK$5.0 million, an increase of approximately HK$15.1 million compared to a loss of approximately HK$10.1 million in the previous year[79]. Revenue Breakdown - Revenue from fine dining reached HK$44,637,000, up from HK$26,320,000, indicating a growth of 70% year-over-year[32]. - Casual dining revenue increased to HK$23,307,000 from HK$6,445,000, reflecting a growth of 262% compared to the previous year[32]. - Revenue from fine dining catering services increased by approximately 69.6%, mainly due to "Duddell Central" increasing by approximately HK$10.0 million and the opening of "Agora" in April 2022[59][60]. - Revenue from mid-market dining and casual dining services increased by approximately 80.7% and 261.6% respectively, attributed to the relaxation of social distancing measures and immigration controls[59][60]. - The reopening of Duddell's airport branch contributed approximately HK$14.6 million in revenue during the period[69]. Operational Costs - Raw materials and consumables used increased to HK$19.3 million from HK$10.9 million, indicating higher operational costs[16]. - Staff costs rose to HK$25.2 million from HK$19.5 million, reflecting increased workforce expenses[16]. - Property rentals and related expenses increased to HK$5.8 million from HK$2.0 million, primarily due to turnover rent at Duddell's Hong Kong Airport[78]. - Raw materials and consumables used amounted to approximately HK$19.3 million, representing 26.3% of total revenue, a decrease from 28.7% in the previous year[74]. - Total staff costs for the three months ended March 31, 2023, amounted to HK$25.2 million, compared to HK$19.5 million in the same period of 2022, reflecting an increase of approximately 28.9%[45]. Dividend and Share Capital - The Board does not recommend the payment of a dividend for the three months ended 31 March 2023, consistent with the previous year[15]. - As of March 31, 2023, the issued share capital of the company is 1,159,780,000 shares[94]. - The Company has 11,350,000 options outstanding under the share option scheme, representing approximately 0.98% of the Company's issued shares[106]. - No share options had been exercised, cancelled, or lapsed as of March 31, 2023[103]. Corporate Governance and Compliance - The Company is committed to maintaining high corporate governance standards and has complied with the CG Code, except for a deviation regarding the roles of chairman and CEO[125]. - The Company has established an Audit Committee to review financial reports and internal controls, comprising three independent non-executive Directors[128]. - The Company confirms that all Directors complied with the required standards of dealings regarding securities transactions during the review period[137]. - No competing business interests were reported by Directors or controlling shareholders during the three months ended March 31, 2023[133]. Market and Business Development - The company has not reported any new product launches or technological advancements during this period[19]. - There were no significant market expansions or acquisitions mentioned in the financial statements for the first quarter of 2023[19]. - The company continues to operate its restaurant business primarily in Hong Kong, with no indication of diversifying into new markets at this time[20]. - The Group's revenue for the three months ended March 31, 2023, is solely derived from restaurant operations in Hong Kong, with no further segment analysis presented[33][35]. - The company has not disclosed any new strategies or market expansions in the report[87]. Management and Staffing - The management team has demonstrated excellent capabilities, as evidenced by multiple awards received by the Group's restaurants[63]. - March 2023 was a busy month for the Group, with numerous events coinciding with Art Basel, contributing to increased business activity[64]. - The remuneration for Ms. Wong Pui Yain and Ms. Wan Suet Yee Cherry has changed to HK$75,000 per month effective from April 1, 2023[138]. - The monthly salary for Ms. Wong Pui Yain and Ms. Wan Suet Yee Cherry has been changed to HKD 75,000, effective from April 1, 2023[140]. Financial Position and Liabilities - As of March 31, 2023, total equity stood at HK$1,804,000, compared to HK$7,983,000 as of March 31, 2022, showing a decrease of 77%[17]. - The accumulated losses increased to HK$115,686,000 as of March 31, 2023, from HK$105,069,000 a year earlier, indicating a rise in losses of approximately 10%[17]. - The group has technically breached loan covenants due to not meeting certain financial standards, but lenders have not demanded immediate repayment as of the report date[87]. - The company has sufficient working capital from existing bank balances, cash, internally generated funds, and available bank financing[87]. - The board believes there is adequate operational funding available from current resources[87].
佳民集团(08519) - 2023 Q1 - 季度财报