Financial Performance - The Group recorded an unaudited revenue of approximately HK$206.0 million for the nine months ended 30 September 2023, representing an increase of approximately 33.5% compared to the corresponding period in 2022[16]. - The Group's unaudited profit attributable to owners of the Company was approximately HK$2.0 million for the nine months ended 30 September 2023, an increase of approximately HK$10.1 million compared to a loss of approximately HK$8.1 million for the same period in 2022[16]. - Earnings per share improved to HK$0.18 for the nine months ended 30 September 2023, compared to a loss of HK$0.70 per share in the corresponding period of 2022, reflecting a positive change of HK$0.88[15]. - Revenue for the three months ended September 30, 2023, was HK$63,253,000, representing an increase of 6.5% compared to HK$59,328,000 for the same period in 2022[18]. - For the nine months ended September 30, 2023, revenue reached HK$206,022,000, up 33.4% from HK$154,361,000 in the previous year[18]. - The company reported a loss before taxation of HK$3,431,000 for the third quarter of 2023, compared to a profit of HK$3,574,000 in the same quarter of 2022[18]. - Total comprehensive loss attributable to owners of the Company for the nine months ended September 30, 2023, was HK$8,065,000, compared to a loss of HK$9,377,000 in the same period of 2022[19]. - Basic and diluted loss per share for the third quarter of 2023 was HK$0.20, compared to earnings of HK$0.31 per share in the third quarter of 2022[18]. Revenue Breakdown - Fine dining revenue for the nine months ended September 30, 2023, was HK$121,190,000, up 12.1% from HK$108,133,000 in 2022[34]. - Casual dining revenue surged to HK$71,207,000 for the nine months ended September 30, 2023, compared to HK$24,102,000 in 2022, marking an increase of 195.5%[34]. - The revenue from "Duddell's Hong Kong Airport" was approximately HK$43.8 million during the period after resuming operations in late November 2022[71]. Expenses and Costs - Staff costs increased to HK$26,021,000 for the three months ended September 30, 2023, from HK$24,368,000 in the same period of 2022, reflecting a rise of 6.8%[18]. - The company incurred property rentals and related expenses of HK$5,944,000 in the third quarter of 2023, significantly higher than HK$2,318,000 in the same quarter of 2022[18]. - Staff costs increased to HK$77,343,000 for the nine months ended September 30, 2023, up from HK$67,353,000 in the previous year, reflecting a rise of approximately 14%[54]. - Property rentals and related expenses increased by approximately HK$9.8 million to approximately HK$17.0 million for the nine months ended September 30, 2023, mainly due to payable turnover rent for "Duddell's Hong Kong Airport"[80]. Corporate Governance and Management - The Company has complied with the corporate governance code provisions during the review period, except for the separation of the roles of chairman and chief executive officer[143]. - The Company believes that having the same individual serve as both chairman and CEO is in the best interest of effective management and business development[143]. - The Board will continue to review the appropriateness of the current management structure and consider splitting the roles when suitable[143]. - The Company has engaged consultants to provide strategic advice, with share options granted as part of their remuneration to incentivize continued service[136]. - The Company aims to maintain high corporate governance standards and will continuously improve its practices[143]. Share Capital and Options - As of September 30, 2023, the issued share capital of the Company is 1,159,780,000 shares[107]. - Ms. Wong Pui Yain holds a total of 543,446,000 shares, representing approximately 46.86% of the issued share capital[105]. - The Share Option Scheme was conditionally adopted on January 23, 2018, to attract and retain personnel for business development[120]. - The Company had 11,350,000 options outstanding under the Share Option Scheme as of September 30, 2023, representing approximately 0.98% of the Company's issued shares[140]. - No share options were exercised, lapsed, or cancelled during the nine months ended September 30, 2023[139]. Strategic Initiatives and Market Outlook - The Group will continue to adopt conservative and prudent business strategies to maintain sufficient cash flow and explore other business opportunities[69]. - Despite the recovery of the travel industry, the Group remains conservative in its outlook and will make steady progress according to its business plans[70]. - The government’s easing of social distancing measures and border reopening significantly improved JIA Group's business performance compared to the previous year[61]. - JIA Group launched a loyalty program in September 2023 to reward its most loyal customers[69]. - Ramato closed its doors in August 2023 to cease consistent losses, reflecting the challenging economic environment[69]. Taxation and Compliance - Current tax expense for the nine months ended September 30, 2023 was HK$158,000, compared to HK$87,000 in the same period of 2022, indicating an increase of approximately 81%[48]. - The Group has technically breached certain bank loan covenants due to failure to meet specific financial criteria, but lenders have not demanded immediate repayment[97]. - The Group is in communication with banks to resolve the breach of bank covenants to maintain existing loan facilities[97]. Other Financial Metrics - Other income for the nine months ended September 30, 2023, was HK$1,702,000, down from HK$13,450,000 in the previous year, indicating a decline of 87.3%[18]. - Interest income on bank deposits for the nine months ended September 30, 2023, was HK$46,000, up from HK$15,000 in 2022[41]. - Finance costs for the three months ended September 30, 2023, totaled HK$410,000, a decrease of 25.6% from HK$551,000 in the same period of 2022[43]. - Interest on lease liabilities for the nine months ended September 30, 2023, was HK$1,072,000, down 32.4% from HK$1,586,000 in 2022[43].
佳民集团(08519) - 2023 Q3 - 季度财报