Financial Performance - The company reported revenue of SGD 48.905 million for the third quarter, an increase from SGD 37.764 million in the same period last year, representing a growth of approximately 29%[10] - The gross profit margin for the third quarter was approximately 17.5%, compared to 15.5% in the previous year, indicating an improvement in cost management[10] - The company reported a net profit of SGD 3.858 million for the nine months ended December 31, 2021, compared to SGD 2.552 million for the same period last year, marking a growth of approximately 51%[12] - Basic and diluted earnings per share for the third quarter were SGD 0.51, down from SGD 0.77 in the previous year, indicating a decrease of about 33.8%[10] - Total revenue for the nine months ended December 31, 2021, was 48,905 thousand Singapore dollars, an increase from 37,764 thousand Singapore dollars for the same period in 2020, representing a growth of approximately 29.5%[29] - The company's revenue increased by approximately 29% from SGD 37.8 million for the nine months ended December 31, 2020, to SGD 48.9 million for the nine months ended December 31, 2021[54] - Net profit decreased from approximately SGD 4.6 million for the nine months ended December 31, 2020, to approximately SGD 3.0 million for the nine months ended December 31, 2021, primarily due to COVID-19 related government support[54] Expenses and Costs - Other income decreased to SGD 571,000 from SGD 1.576 million year-on-year, reflecting a decline of about 64%[10] - Administrative expenses increased to SGD 3.737 million from SGD 3.202 million, representing a rise of approximately 17.7%[10] - Financing costs rose to SGD 345,000 from SGD 234,000, an increase of about 47.4%[10] - Employee benefits for the nine months ended December 31, 2021, were 5,030 thousand Singapore dollars, compared to 4,365 thousand Singapore dollars in the same period of 2020, representing an increase of about 15.2%[29] - The cost of goods sold for the nine months ended December 31, 2021, was 32,993 thousand Singapore dollars, an increase from 23,039 thousand Singapore dollars in the previous year, indicating a rise of approximately 43.3%[33] - Selling and distribution expenses increased by approximately S$1.7 million (or about 59%) to S$4.6 million for the nine months ended December 31, 2021, mainly due to an increase in workforce and expanded delivery fleet[68] - Administrative expenses increased from approximately S$3.2 million to S$3.7 million for the nine months ended December 31, 2021, primarily due to increased employee benefits[69] Segment Performance - For the three months ended December 31, 2021, total segment revenue was 17,047 thousand Singapore dollars, comprising 11,978 thousand from fresh eggs and 5,069 thousand from processed eggs[22] - The segment performance for fresh eggs and processed eggs was 1,710 thousand and 1,285 thousand Singapore dollars respectively, leading to a total profit before tax of 1,980 thousand Singapore dollars[22] - The company reported a total revenue of 14,186 thousand Singapore dollars for the nine months ended December 31, 2021, with fresh eggs contributing 9,795 thousand and processed eggs contributing 4,391 thousand Singapore dollars[25] - The profit before tax for the nine months ended December 31, 2021, was 2,493 thousand Singapore dollars, with segment performance showing 1,889 thousand for fresh eggs and 1,355 thousand for processed eggs[25] - Revenue from fresh eggs accounted for about 70% of total revenue, increasing from approximately SGD 26.4 million to SGD 34.4 million for the same periods[59] - Revenue from processed eggs accounted for about 30% of total revenue, rising from approximately SGD 11.3 million to SGD 14.5 million for the same periods[60] Assets and Equity - The company’s total equity increased to SGD 36.795 million as of December 31, 2021, up from SGD 30.639 million at the end of the previous year, reflecting a growth of approximately 20%[12] - The company recognized a fair value gain of 791 thousand Singapore dollars from biological assets for the three months ended December 31, 2021[22] - Biological assets fair value changes less estimated point of sale costs increased by approximately S$1.1 million to S$1.3 million for the nine months ended December 31, 2021[67] Future Plans and Market Outlook - The company plans to expand its market presence in Singapore and explore new product lines in the coming quarters[14] - The company is focusing on sustainable agricultural practices and enhancing its product offerings through research and development initiatives[14] - The company is currently expanding its existing egg-laying facilities and processing facilities, expected to start production in Q2 2022[55] - The quail egg farm is under construction and is also expected to start production in Q2 2022[56] - The Singapore egg market is expected to remain challenging due to potential demand impacts from the ongoing pandemic and reduced government support[58] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, oversees the company's financial reporting and internal control systems[87] - The unaudited consolidated financial statements for the nine months ending December 31, 2021, were reviewed and deemed compliant with applicable accounting standards and GEM listing rules[87] - The company has established a written terms of reference for the audit committee in accordance with GEM listing rules[87] - Mr. Ma Qiongjiu serves as the chairman and CEO of the company[88] - The company is committed to ensuring full disclosure in compliance with the Securities and Futures Ordinance[81]
永续农业(08609) - 2022 Q3 - 季度财报