Revenue Performance - Total revenue for the six months ended October 31, 2023, was HKD 1,322,485,000, a decrease of 4.6% from HKD 1,386,665,000 in the same period of 2022[11] - Revenue in Singapore increased by 10.3% year-on-year to SGD 26,500,000, up from SGD 24,036,000[25] - Revenue from Hong Kong, Singapore, and Macau for the six months ended October 31, 2023, was HKD 1,322,485,000, down from HKD 1,386,665,000 in the previous year[38] - Revenue from the Hong Kong market reached HKD 1,147,066,000, a decrease of 6.5% compared to the previous year due to high base effects from COVID-19 demand[93] - The company recorded revenue of HKD 21,821,000 from its Macau operations, down from HKD 24,469,000 in the previous year[107] Profitability - The operating profit for the six months was HKD 59,812,000, a decrease from HKD 129,495,000 in the same period last year[11] - Net profit for the period was HKD 48,920,000, down from HKD 109,866,000 in the previous year, representing a decline of 55.6%[11] - The group reported a profit attributable to equity holders of HKD 50,764,000 for the six months ended October 31, 2023, down from HKD 110,350,000 in the same period last year[43] - Profit attributable to equity holders of the company was HKD 50,764,000, a decrease of 35% from HKD 110,350,000 in the previous year[82] - The gross profit margin increased to 46.8% for the period, compared to 46.7% in 2022/23[78] Employee Costs - The total employee cost for the year was HKD 216,886,000, up from HKD 192,564,000 in the previous year, reflecting an increase of 12.6%[1] - Employee benefit expenses increased to HKD 216,886,000 from HKD 192,564,000 year-on-year[50] - The company employed approximately 2,190 staff as of October 31, 2023, an increase from 2,060 staff in the previous year[1] Market and Strategic Initiatives - The company plans to continue exploring new revenue sources by opening new stores in strategic locations, particularly in large shopping centers in Hong Kong[10] - The company aims to expand its health and wellness product offerings in response to increasing consumer demand for health-conscious products[10] - The group plans to introduce competitive OEM products from Hong Kong to diversify its product offerings[25] - The company aims to develop more competitive OEM products and enhance its own brand product lines to increase profitability[87] - The company is expanding its global supplier network, particularly in Japan and South Korea, to enhance product supply and meet market trends[87] Financial Position - The total equity as of October 31, 2023, was HKD 879,180,000, a decrease from HKD 904,403,000 as of April 30, 2023[13] - The group’s total liabilities amounted to HKD 895,071,000 as of October 31, 2023, compared to HKD 873,035,000 as of April 30, 2023[38] - The company’s total liabilities as of October 31, 2023, were HKD 240,285,000, compared to HKD 218,426,000 as of April 30, 2023, reflecting an increase of 10%[55] - Total assets as of October 31, 2023, amounted to HKD 1,774,251,000, a slight decrease from HKD 1,777,438,000 as of April 30, 2023[110] Cash Flow and Dividends - Cash and cash equivalents as of October 31, 2023, were HKD 318,775,000, down from HKD 402,310,000 as of April 30, 2023, primarily due to tax payments[99] - The company declared an interim dividend of HKD 0.056 per share, totaling approximately HKD 40,315,000, compared to HKD 86,380,000 for the interim dividend in the previous year[58] Operational Efficiency - The group aims to enhance operational efficiency through technology investments, including automated inventory replenishment and digital price tags[27] - The management emphasizes the need to improve operational efficiency and control costs to maintain competitiveness in a challenging market environment[97] - The logistics and distribution center restructuring caused temporary disruptions, but the new self-operated centers are expected to enhance procurement advantages and improve product delivery efficiency[128] - The company is continuously improving supply chain operations to enhance competitiveness and drive future growth[128] Challenges and External Factors - The group's revenue was impacted by decreased demand for pandemic-related supplies, post-pandemic travel habits in Hong Kong, and extreme weather conditions[128] - Increased employee costs led to a rise in operating expenses, affecting profitability[128] - The company is actively implementing effective measures to mitigate operational impacts from various external factors[128] Inventory Management - Inventory increased to HKD 385,040,000, up from HKD 360,188,000, reflecting a growth of about 6.5%[110] - The group is focused on optimizing inventory management and reducing costs through automation to enhance overall productivity[27]
国际家居零售(01373) - 2024 - 中期业绩