Financial Performance - For the three months ended December 31, 2022, the company reported revenue of SGD 24,633,000, an increase of 44.5% compared to SGD 17,047,000 for the same period in 2021[5]. - The gross profit for the same period was SGD 965,000, compared to SGD 1,053,000 in the previous year, reflecting a decrease of 8.3%[5]. - The net profit attributable to the owners of the company for the three months was SGD 701,000, compared to SGD 1,716,000 in the same period last year, representing a decline of 59.3%[7]. - For the nine months ended December 31, 2022, total revenue reached SGD 70,421,000, up 43.9% from SGD 48,905,000 in the prior year[9]. - The company recorded a gross profit of SGD 1,902,000 for the nine-month period, compared to SGD 1,464,000 in the previous year, indicating an increase of 29.9%[9]. - The basic and diluted earnings per share for the three months were SGD 0.14, down from SGD 0.34 in the same quarter of the previous year[7]. - The company reported a net profit of SGD 2,552,000 for the nine months ended December 31, 2022, compared to SGD 15,042,000 for the same period in the previous year, indicating a decrease of about 83%[10]. Expenses and Costs - The company experienced a significant increase in sales and distribution expenses, which rose to SGD 5,279,000 for the nine months, compared to SGD 4,627,000 in the previous year, marking an increase of 14.0%[9]. - Administrative expenses for the three months were SGD 1,645,000, compared to SGD 1,156,000 in the same period last year, reflecting an increase of 42.3%[7]. - The company reported a pre-tax profit of SGD 894,000 for the three months, down from SGD 1,980,000 in the previous year, a decrease of 55.0%[7]. - The cost of goods sold for the nine months ended December 31, 2022, was SGD 49,433 thousand, compared to SGD 32,993 thousand in the previous year, representing an increase of 49.8%[21][22]. - Employee benefits for the nine months ended December 31, 2022, totaled SGD 5,798 thousand, up from SGD 5,030 thousand in the same period of 2021, indicating a rise of 15.3%[21][22]. - The company incurred financing costs of SGD 440 thousand for the nine months ended December 31, 2022, compared to SGD 345 thousand in the same period of 2021, reflecting an increase of 27.5%[26]. - Depreciation of property, plant, and equipment for the nine months ended December 31, 2022, was SGD 2,114 thousand, up from SGD 1,950 thousand in the previous year, indicating an increase of 8.4%[21][22]. Revenue Segmentation - Fresh egg segment revenue reached SGD 17,621,000, while processed egg segment revenue was SGD 7,012,000, totaling SGD 24,633,000 for the three months ended December 31, 2022[19]. - Fresh egg segment revenue for the nine months ended December 31, 2022, was SGD 49,793 thousand, up from SGD 34,380 thousand in the previous year, indicating a growth of 44.9%[21][22]. - Processed egg segment revenue increased to SGD 20,628 thousand for the nine months ended December 31, 2022, compared to SGD 14,525 thousand in the same period of 2021, reflecting a growth of 41.9%[21][22]. - Approximately 70% of revenue comes from fresh egg sales, which increased from SGD 34.4 million to SGD 49.8 million, driven by an expanded customer base[41]. - Processed egg sales accounted for about 30% of revenue, rising from SGD 14.5 million to SGD 20.6 million, boosted by increased sales to food service customers as COVID-19 restrictions eased[42]. Future Plans and Developments - The company has indicated plans for market expansion and new product development to drive future growth, although specific details were not disclosed in the report[5]. - The company plans to expand its operations by constructing three additional chicken houses, expected to be completed by the end of 2023[37]. - The company is focused on expanding its operations in Singapore, primarily in the production and sale of fresh eggs and processed egg products[12]. - The company is enhancing its existing egg sorting, packaging, and processing facilities in line with increased production capacity[38]. Equity and Shareholding - As of December 31, 2022, the total equity amounted to SGD 45,959,000, an increase from SGD 36,795,000 as of December 31, 2021, representing a growth of approximately 25%[10]. - The company’s retained earnings increased to SGD 26,598,000 as of December 31, 2022, up from SGD 17,594,000 as of December 31, 2021, reflecting a growth of approximately 51%[10]. - The company’s total liabilities and equity as of December 31, 2022, were SGD 45,799,000, which includes non-controlling interests of SGD 160,000[10]. - As of December 31, 2022, Radiant Grand International Limited holds 294,800,000 shares, representing approximately 58.96% of the company's shares[62]. - Elite Ocean Ventures Limited owns 80,200,000 shares, accounting for about 16.04% of the company's shares[64]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ending December 31, 2022, and found them compliant with applicable accounting standards and GEM listing rules[66]. - The company has not been informed of any other interests or short positions in its shares that require disclosure under the Securities and Futures Ordinance as of the report date[65]. - The chairman and CEO, Mr. Ma Qiong Jiu, leads the executive team, which includes Ms. Lin Shu Ying and Mr. Chen Hong Lai[67].
永续农业(08609) - 2023 Q3 - 季度财报