Financial Performance - For the six months ended June 30, 2023, the company reported total revenue of SGD 8,774,000, an increase of 3.7% compared to SGD 8,458,000 for the same period in 2022[11]. - The gross profit for the same period was SGD 6,070,000, a slight decrease of 1.3% from SGD 6,152,000 in 2022[11]. - The company incurred a loss before tax of SGD 1,145,000, compared to a loss of SGD 682,000 in the previous year, reflecting a significant increase in losses[11]. - The net loss attributable to equity holders of the company for the six months was SGD 1,156,000, compared to SGD 692,000 in 2022, indicating a worsening financial performance[11]. - The company reported a total comprehensive loss of SGD 1,166,000 for the six months, compared to SGD 709,000 in 2022, highlighting ongoing challenges[11]. - The basic loss per share for the period was SGD 0.23, compared to SGD 0.14 in the same period last year, indicating a decline in shareholder value[11]. - The group reported a pre-tax loss of SGD 1,145,000 for the six months ended June 30, 2023, compared to a loss of SGD 682,000 in the same period of 2022[26]. - The group recorded a loss of approximately SGD 1.16 million for the six months ended June 30, 2023, compared to a loss of SGD 0.69 million for the same period in 2022, attributed to declining performance in Singapore and rising food costs[55]. Revenue Breakdown - Revenue for the restaurant business was SGD 6,520,000 for the six months ended June 30, 2023, a decrease of 0.5% compared to SGD 6,551,000 in the same period of 2022[22]. - Revenue from the artisanal bakery segment increased to SGD 2,250,000 for the six months ended June 30, 2023, up 18.4% from SGD 1,900,000 in the previous year[22]. - Total revenue for the group was SGD 8,774,000 for the six months ended June 30, 2023, compared to SGD 8,458,000 for the same period in 2022, reflecting a growth of 3.7%[24]. Expenses and Costs - Employee benefits expenses totaled SGD 3,139,000, showing a marginal decrease from SGD 3,152,000 in the prior year[11]. - Cost of goods sold increased by approximately SGD 0.40 million or 17.3% to SGD 2.70 million for the six months ended June 30, 2023, primarily due to food cost inflation driven by the depreciation of the Malaysian Ringgit[52]. - Other income decreased by approximately SGD 0.12 million or 40.9% to SGD 0.17 million for the six months ended June 30, 2023, due to the lack of Covid-19 related subsidies from the local government[53]. Assets and Liabilities - Total non-current assets decreased from SGD 11,571,000 in December 2022 to SGD 10,633,000 in June 2023, a decline of 8.1%[12]. - Current assets decreased from SGD 3,942,000 in December 2022 to SGD 3,002,000 in June 2023, a decline of 23.9%[12]. - Total liabilities increased from SGD 7,059,000 in December 2022 to SGD 7,684,000 in June 2023, an increase of 8.8%[12]. - The company's equity decreased from SGD 1,481,000 in December 2022 to SGD 315,000 in June 2023, a decline of 78.7%[12]. - Cash and cash equivalents decreased significantly from SGD 2,236,000 at the beginning of the period to SGD 630,000 at the end, a reduction of 71.8%[15]. - Trade and other receivables increased to SGD 2,453,000 as of June 30, 2023, from SGD 1,627,000 as of December 31, 2022[33]. - Total trade receivables as of June 30, 2023, amounted to SGD 118,000, an increase from SGD 113,000 as of December 31, 2022, reflecting a growth of approximately 4.42%[35]. - The net refundable deposits increased to SGD 1,537,000 as of June 30, 2023, compared to SGD 1,403,000 as of December 31, 2022, representing a growth of about 9.54%[35]. - Trade payables decreased to SGD 1,095,000 as of June 30, 2023, down from SGD 1,153,000 as of December 31, 2022, indicating a decline of approximately 5.03%[36]. - Other payables rose significantly to SGD 1,214,000 as of June 30, 2023, compared to SGD 778,000 as of December 31, 2022, marking an increase of around 55.95%[36]. - Total borrowings decreased to SGD 9,100,000 as of June 30, 2023, from SGD 10,320,000 as of December 31, 2022, reflecting a reduction of approximately 11.77%[38]. Operational Highlights - The company has not adopted any new or revised International Financial Reporting Standards that have been issued but are not yet effective[19]. - The group did not recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous year[30]. - The group faced a labor market vacancy rate of 7% as of the first quarter of 2023, exacerbated by a reduction in foreign worker quotas[48]. - Inflation rate in Singapore remained high at 4.7% as of May 2023, with food inflation rising to 6.8% year-on-year[48]. - The group does not plan to expand further this year and will implement cost-cutting measures to better manage cash flow[50]. - The company has issued 500,000,000 ordinary shares, maintaining the same issued and paid-up capital of SGD 869,000 as of June 30, 2023, unchanged from December 31, 2022[42]. Management and Governance - The company has adhered to the corporate governance code and principles applicable since the six months ending June 30, 2023[81]. - The audit committee was established in accordance with GEM Listing Rule 5.28, consisting of independent non-executive directors[84]. - No directors or major shareholders have interests in any competing businesses as of June 30, 2023[82]. - No related party transactions were entered into by the group for the six months ending June 30, 2023[76]. - The board expressed gratitude to shareholders, business partners, and customers for their continued support[88].
聚利宝控股(08527) - 2023 - 中期财报