Financial Performance - The net profit attributable to equity shareholders was HKD 219.724 million, an increase of 41.5% compared to HKD 155.312 million in the same period last year[24]. - Revenue for the six months ended September 30, 2023, was HKD 1.273 billion, up 26.1% from HKD 1.009 billion in the previous year[43]. - The operating profit for the period was HKD 256.51 million, compared to HKD 197.878 million in the previous year[35]. - The total comprehensive income attributable to equity shareholders for the period was HKD 196,026,000, compared to HKD 119,212,000 in the previous year, representing a significant increase[68]. - The company reported a pre-tax profit for the period, with basic and diluted earnings per share of HKD 219,724,000, compared to HKD 155,312,000 for the same period last year[133]. Revenue Growth - Sales in Taiwan experienced an 8.5% growth in revenue and a record profit growth of 23.4% during the review period[26]. - Retail and wholesale sales in China grew by 32% in local currency during the review period, with 64% of retail sales growth attributed to new store openings in high-traffic shopping centers[45]. - Revenue from Hong Kong was HKD 890,985,000 for the six months ended September 30, 2023, compared to HKD 682,323,000 in 2022, reflecting a growth of 30.5%[128]. - The revenue from cosmetics and beauty products surged to HKD 467,953 thousand, compared to HKD 250,364 thousand, marking an increase of approximately 87.2%[104]. - The revenue from external customers for the six months ended September 30, 2023, was HKD 1,218,678,000, an increase of 24.7% compared to HKD 976,847,000 for the same period in 2022[126]. Dividend and Shareholder Returns - A mid-term dividend of HKD 0.10 per share was declared, representing a 25% increase from the previous year's HKD 0.08[44]. - The total amount of the interim dividend is approximately HKD 39.42 million, compared to HKD 31.54 million in 2022[189]. - The interim dividend declared is HKD 0.10 per ordinary share, a 25% increase from HKD 0.08 in 2022, with a payout ratio of 17.94%[189]. Cash and Liquidity - The company has a net cash position of HKD 2.269 billion, which positions it well to face potential global economic downturns[30]. - Cash generated from operating activities before changes in working capital was HKD 279,262,000 for the six months ended September 30, 2023, compared to HKD 257,109,000 for the same period in 2022, representing an increase of approximately 8.9%[75]. - Cash and cash equivalents increased to HKD 3,225,654,000 as of September 30, 2023, compared to HKD 3,157,983,000 on April 1, 2023, marking an increase of approximately 2.14%[75]. - The total increase in cash and cash equivalents for the period was HKD 81,848,000, contrasting with a decrease of HKD 46,111,000 in the same period last year[75]. - The company reported a net cash inflow from investment activities of HKD 252,690,000 for the six months ended September 30, 2023, significantly higher than HKD 69,950,000 in the same period of the previous year[75]. Operational Strategy - The company plans to close the "Harvey Nichols" store in the Landmark after the fiscal year, consolidating operations to reduce costs and enhance profitability[44]. - The group plans to continue integrating its distribution network cautiously while expanding its retail presence[45]. - The group will adopt a prudent approach to managing its retail network and will strictly control costs across all operational levels[49]. - The company will continue to seek new investment opportunities to diversify and expand its profit base[29]. Market Conditions and Outlook - The company maintains a cautious optimism regarding its Taiwan business for the remainder of the year, despite weak consumer sentiment[28]. - The group remains cautious about the retail environment in Hong Kong, citing ongoing declines in the stock and real estate markets, as well as high interest rates negatively impacting consumer spending[47]. - Despite cautious consumer sentiment in China, the group maintains an optimistic long-term outlook and plans to continue expanding its business in the region[48]. - The group faces intense competition from markets such as Japan and Europe, which offer luxury goods at significantly lower prices due to currency weakness and tax refund incentives for tourists[47]. Assets and Liabilities - As of September 30, 2023, total assets less current liabilities amounted to HKD 3,940,186,000, compared to HKD 3,910,354,000 as of March 31, 2023[69]. - The group reported a net asset value of HKD 3,478,685,000 as of September 30, 2023, an increase from HKD 3,389,094,000 as of March 31, 2023[69]. - The total amount payable to related companies was HKD 10.510 million as of September 30, 2023, compared to HKD 7.617 million as of March 31, 2023[162]. - The group’s total liabilities included commercial payables amounting to HKD 1.195 billion as of September 30, 2023[168]. Employee and Governance - Total employee costs, including director remuneration, amounted to HKD 129.7 million, an increase from HKD 114.2 million in 2022[186]. - The group employed 754 staff as of September 30, 2023, an increase from 740 in 2022[186]. - The company has adhered to the corporate governance code principles, ensuring high standards of governance and transparency[191].
迪生创建(00113) - 2024 - 中期财报