Financial Performance - For the first quarter ended March 31, 2022, the company reported revenue of SGD 3,926,000, a decrease from SGD 4,118,000 in the same period last year, representing a decline of approximately 4.66%[12] - The gross profit for the first quarter was SGD 2,859,000, compared to SGD 3,109,000 in the previous year, indicating a decrease of about 8.03%[12] - The company recorded a loss before tax of SGD 479,000, which is a slight increase from the loss of SGD 444,000 in the prior year, reflecting a deterioration of approximately 7.88%[12] - The net loss attributable to owners of the company for the quarter was SGD 484,000, compared to a loss of SGD 452,000 in the same quarter last year, marking an increase of about 7.09%[12] - The total comprehensive loss for the period was SGD 483,000, compared to a total comprehensive loss of SGD 416,000 in the previous year, representing an increase of approximately 16.06%[12] - The company's basic loss per share for the quarter was SGD 0.10, compared to SGD 0.09 in the same period last year, indicating a worsening of approximately 11.11%[12] - Revenue decreased by approximately SGD 0.19 million or 4.7% to SGD 3.93 million for the three months ended March 31, 2022, compared to SGD 4.12 million for the same period in 2021[37] - The group recorded a loss of approximately SGD 0.48 million for the three months ended March 31, 2022, compared to a loss of SGD 0.45 million for the same period in 2021, attributed to overall revenue decline[44] Equity and Shareholder Information - As of March 31, 2022, the total equity of the company was SGD 2,801,000, down from SGD 6,066,000 as of January 1, 2021, reflecting a decrease of approximately 53.82%[14] - As of March 31, 2022, major shareholders and other individuals (excluding directors and senior management) held a total of 90,500,000 shares, representing approximately 18.1% of the company's equity[51] - The company did not recommend any interim dividend for the three months ended March 31, 2022, consistent with the previous year[27] - The board of directors did not recommend any interim dividend for the three months ending March 31, 2022, consistent with the previous year[63] Revenue Sources and Expenses - Revenue from the food and beverage business was SGD 3,033,000, down from SGD 3,405,000 year-on-year[23] - The company's employee benefits expenses for the quarter were SGD 1,564,000, an increase from SGD 1,510,000 in the same period last year, representing a rise of approximately 3.59%[12] - Cost of goods sold increased by approximately SGD 0.06 million or 5.7% to SGD 1.07 million for the three months ended March 31, 2022, due to overall food price inflation[38] - Other income decreased by approximately SGD 0.33 million or 69.7% to SGD 0.14 million for the three months ended March 31, 2022, primarily due to reduced government and landlord subsidies[39] - Depreciation of right-of-use assets decreased by approximately SGD 0.31 million or 30.2% to SGD 0.70 million for the three months ended March 31, 2022, due to a reduction in operational stores[40] Strategic Initiatives and Market Conditions - The company continues to explore new strategies for market expansion and product development to improve financial performance in future quarters[11] - The company is closely monitoring inflationary pressures and tax policies in the US and Singapore, which may affect consumer behavior[33] - The overall business environment remains consistent with the previous year's report, with ongoing challenges related to labor shortages and rising wage levels in Singapore[33] - The newly opened café Q Classified in Yishun is performing well, while business prospects in China are currently on hold due to strict lockdown measures[34] - The company aims to minimize losses and improve performance through careful adjustments to its business strategies[36] Compliance and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards and presented in Singapore dollars[17] - The group did not adopt any new or revised International Financial Reporting Standards that have been issued but are not yet effective[18] - The company is committed to high standards of corporate governance, although the roles of chairman and CEO are held by the same individual[59] - The company has not established any arrangements for directors or senior management to acquire any securities of the company or its affiliates since the listing date[50] Other Information - The company received a court order on March 28, 2022, confirming the withdrawal of a claim amounting to SGD 9,073,811 against it[29] - The group operates in Singapore's food and beverage sector and Malaysia's artisanal bakery chain[19] - The group incurred an income tax expense of SGD 5,000 for the three months ended March 31, 2022, consistent with the SGD 8,000 reported in the previous year[25] - The company did not engage in any related party transactions during the three months ending March 31, 2022[55] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ending March 31, 2022[56] - The company did not grant any share options under the share option scheme from its adoption until March 31, 2022[57] - There were no significant investments, acquisitions, or disposals made by the group during the three months ending March 31, 2022[64] - The audit committee reviewed the unaudited first-quarter results for the three months ending March 31, 2022[62] - The company expressed gratitude to shareholders, business partners, and customers for their continued support during the reporting period[65]
聚利宝控股(08527) - 2022 Q1 - 季度财报