Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 4,146,000, a slight decrease of 0.5% compared to SGD 4,166,000 in the same period of 2022[11] - Gross profit for the same period was SGD 2,777,000, down 5.6% from SGD 2,942,000 year-on-year[11] - The company incurred a pre-tax loss of SGD 965,000 for the three months ended September 30, 2023, compared to a loss of SGD 812,000 in the prior year, representing an increase in loss of 18.9%[11] - The net loss attributable to equity holders for the three months was SGD 969,000, compared to SGD 810,000 in the same period of 2022, reflecting a year-on-year increase of 19.6%[11] - For the nine months ended September 30, 2023, total revenue was SGD 12,920,000, an increase of 2.4% from SGD 12,624,000 in the same period of 2022[11] - The company reported a net loss of SGD 2,125,000 for the nine months, compared to a loss of SGD 1,502,000 in the previous year, indicating a 41.5% increase in loss[11] - The company’s total comprehensive loss for the nine months was SGD 2,129,000, compared to SGD 1,397,000 in the same period of 2022, marking a 52.6% increase[12] - The company’s basic loss per share for the nine months was SGD 0.42, compared to SGD 0.30 in the previous year, reflecting a 40% increase in loss per share[11] Revenue Breakdown - Revenue from the bakery segment for the nine months ended September 30, 2023, increased to SGD 3,435,000, up 14.2% from SGD 3,007,000 in the same period last year[20] - The group’s total revenue from restaurant operations and bakery retail stores for the nine months ended September 30, 2023, was SGD 12,920,000, an increase from SGD 12,624,000 in the same period last year[20] - Total revenue for the nine months ended September 30, 2023, was SGD 9,477,000, a decrease of 1.3% compared to SGD 9,606,000 for the same period in 2022[20] - Revenue increased by approximately SGD 0.3 million or 2.3% to SGD 12.9 million for the nine months ended September 30, 2023, compared to SGD 12.6 million for the same period in 2022[33] Expenses and Costs - Employee benefit expenses rose to SGD 5,031,000 for the nine months, up 7.5% from SGD 4,681,000 in the same period of 2022[11] - Cost of goods sold increased by approximately SGD 0.54 million or 15.4% to SGD 4.07 million due to inflation in food costs, particularly in Malaysia[34] - Employee benefits expenses rose by approximately SGD 0.35 million or 7.5% to SGD 5.03 million, primarily due to annual salary increases and additional training costs for new staff[35] - Depreciation of property, plant, and equipment increased by approximately SGD 0.14 million or 27.6% to SGD 0.65 million, attributed to the opening and rebranding of two new outlets[37] - Other expenses decreased by approximately SGD 0.27 million or 11.0% to SGD 2.23 million, mainly due to the absence of asset write-offs related to two closed stores[38] Operational Challenges - The group recorded a loss of approximately SGD 2.12 million for the nine months ended September 30, 2023, compared to a loss of SGD 1.50 million for the same period in 2022, primarily due to declining performance in Singapore and rising inflation[39] - The company faces challenges from high inflation, with food inflation rising to 6.8% year-on-year, impacting operational costs significantly[30] - Labor costs have increased by at least 10% over the past year, exacerbated by a tight labor market and new minimum wage regulations[31] Strategic Changes - The termination of the "Greyhound Café" franchise in April 2023 led to the establishment of a new brand, "Crazy Rich Thai," which offers innovative Thai cuisine[28] - The company aims to implement cost-cutting measures to better manage cash flow amidst rising operational costs and labor shortages[31] Shareholder and Governance Information - As of September 30, 2023, major shareholders include Net Heart Rehabilitation Hospital (International) Limited, holding 90,500,000 shares, representing 18.1% of the company's equity[45] - The company did not engage in any related party transactions during the nine months ended September 30, 2023[48] - No significant investments, acquisitions, or disposals were made by the group during the nine months ended September 30, 2023[57] - The board does not recommend any interim dividend for the nine months ended September 30, 2023, consistent with the previous year[56] - The company has not established any plans for significant investments or acquisitions of capital assets as of the report date[58] - The company has not granted any share options since the adoption of the share option scheme on April 4, 2018, until September 30, 2023[50] - The audit committee reviewed the group's unaudited interim results for the nine months ended September 30, 2023[55] - The company has maintained compliance with corporate governance codes and principles during the reporting period[52] - There were no purchases, sales, or redemptions of the company's listed securities from the listing date until September 30, 2023[49] - The company has not established any arrangements for directors or senior management to acquire any securities of the company or its affiliates[44]
聚利宝控股(08527) - 2023 Q3 - 季度财报