Financial Performance - Revenue for the six months ended September 30, 2023, was HK$106,574,000, representing a 22% increase from HK$87,292,000 in the same period of 2022[9] - Gross profit increased to HK$76,513,000, up 31% from HK$58,384,000 year-over-year[9] - Loss for the period narrowed to HK$7,934,000 compared to a loss of HK$24,432,000 in the previous year, indicating improved operational efficiency[12] - Total comprehensive income for the period was HK$(8,892,000), a significant improvement from HK$(44,756,000) in the prior year[12] - For the six months ended September 30, 2023, the company reported a loss of HK$7,431,000, compared to a loss of HK$23,890,000 for the same period in 2022, representing a 68.96% improvement in loss[18] - Total comprehensive income for the six months ended September 30, 2023, was HK$8,206,000, a decrease from HK$43,441,000 in the previous year[18] - The consolidated loss before taxation decreased to $7,572,000 in 2023 from $24,403,000 in 2022, showing a reduction of approximately 68.9%[54] - For the six months ended 30 September 2023, the Group reported an EBITDA of $10,770,000, compared to a loss of $5,484,000 in the same period of 2022, indicating a significant improvement[54] Assets and Equity - Non-current assets increased to HK$396,377,000 as of September 30, 2023, compared to HK$384,524,000 at the end of March 2023[16] - Current assets slightly decreased to HK$198,567,000 from HK$199,603,000 over the same period[16] - Total equity attributable to equity shareholders decreased to HK$445,632,000 from HK$470,424,000[16] - As of September 30, 2023, total equity attributable to equity shareholders of the company was HK$445,632,000, a decrease from HK$447,264,000 as of September 30, 2022[18] - The Group's net assets as of September 30, 2023, were HK$452,139,000 (March 31, 2023: HK$477,617,000)[139] Cash Flow and Dividends - Cash generated from operations for the six months ended September 30, 2023, was HK$12,217,000, significantly up from HK$2,337,000 in 2022, marking a 424.5% increase[22] - The company declared dividends of HK$16,586,000 for the previous year, compared to HK$8,293,000 in the prior year, indicating a 100% increase in dividends[18] - Cash and cash equivalents at the end of the period on September 30, 2023, were HK$108,832,000, compared to HK$105,511,000 at the same time last year, reflecting a 2.2% increase[22] - The company experienced a net decrease in cash and cash equivalents of HK$7,494,000 for the six months ended September 30, 2023, compared to a decrease of HK$15,400,000 in the previous year[22] - Cash and bank deposits as of September 30, 2023, were HK$108,832,000 (March 31, 2023: HK$118,116,000)[137] Business Strategy and Market Conditions - The company plans to focus on market expansion and new product development to drive future growth[10] - The group faced challenges due to changing consumer behavior, economic factors, and geopolitical issues, despite the revenue growth[122] - The group is cautiously approaching the expansion of its store network in light of ongoing market challenges[122] Segment Performance - Revenue from external customers for the garments division increased to $78,284,000 in 2023 from $60,828,000 in 2022, representing a growth of approximately 28.6%[54] - The reportable segment revenue for the Group reached $108,191,000 for the six months ended 30 September 2023, up from $89,045,000 in 2022, reflecting an increase of about 21.5%[54] - The garments division's reportable segment revenue for the twelve months ended 30 September 2023 was $178,872,000, up from $144,810,000 in 2022, marking an increase of about 23.5%[58] - The reportable segment EBITDA for the garments division for the twelve months ended 30 September 2023 was $23,459,000, compared to $12,557,000 in 2022, indicating a growth of approximately 87.0%[58] Compliance and Governance - The interim financial report is unaudited but has been reviewed by the Company's audit committee[31] - The Group has not adopted any new standards or interpretations that are not yet effective for the current accounting period[39] - The Group has assessed the implications of the new HKICPA guidance and plans to adopt it with retrospective application in the annual financial statements for the year ending March 31, 2024[47] - The company has complied with the Code on Corporate Governance Practices throughout the period ended September 30, 2023, except for the non-executive directors not being appointed for a specific term[157] - The company has established an audit committee to oversee financial reporting and internal controls[155] Other Financial Metrics - The finance costs for the six months ended 30 September 2023 were $1,734,000, compared to $1,066,000 in 2022, indicating an increase of about 62.6%[60] - The Group's income tax expense for the six months ended 30 September 2023 was $(362,000), compared to $(29,000) in 2022, reflecting a higher tax burden[63] - The gearing ratio at the end of the reporting period was 0.174 (March 31, 2023: 0.134), reflecting a stable financial position[139]
YGM TRADING(00375) - 2024 - 中期财报