Financial Performance - The group's revenue for the six months ended September 30, 2023, was HKD 1,272.37 million, an increase of 26.1% compared to HKD 1,008.62 million in the same period last year[2][7]. - The gross profit for the period was HKD 566.24 million, up from HKD 475.20 million, reflecting a strong performance despite market challenges[7]. - The basic and diluted earnings per share increased to HKD 0.557 from HKD 0.394, representing a significant improvement in profitability[7]. - The total comprehensive income attributable to equity shareholders for the period was HKD 196.03 million, compared to HKD 119.21 million in the prior year[9]. - The net profit attributable to equity shareholders for the six months ended September 30, 2023, was HKD 219.724 million, an increase of 41.5% compared to HKD 155.530 million in the same period last year[82]. - The total profit before tax for the six months ended September 30, 2023, was HKD 1,272,372, compared to HKD 1,008,621 for the same period in 2022, reflecting a growth of 26.1%[112]. Sales and Market Performance - Retail and wholesale sales in China grew by 32% in local currency, with 64% of retail sales growth attributed to new store openings in high-traffic shopping centers[20]. - In Taiwan, despite weak consumer confidence, the group achieved a sales revenue growth of 8.5% and a record profit growth of 23.4% during the review period, attributed to effective control of gross margin, operating costs, and inventory[83]. - Revenue from luxury goods sales for the six months ended September 30, 2023, was HKD 1,218,678, an increase of 24.7% compared to HKD 976,847 for the same period in 2022[110]. - The revenue from cosmetics and beauty products significantly increased to HKD 467,953, up 86.8% from HKD 250,364 in the previous year[110]. - The profit from the luxury goods segment for the six months ended September 30, 2023, was HKD 199,278, representing a 32.3% increase from HKD 150,628 in the same period last year[112]. Operational Strategy - The company plans to close the "Harvey Nichols" store in Landmark after the fiscal year, consolidating operations into the Taikoo Place store to reduce operational costs and enhance profitability[3]. - The company will continue to manage its retail network prudently and strictly control operational costs in response to market conditions[22]. - The company remains optimistic about the long-term prospects in China and will seek to expand its business in the region despite current consumer caution[5]. - The group will continue to seek new investment opportunities to diversify and expand its profit base[85]. Financial Position - As of September 30, 2023, the current ratio was 2.7 times, an increase from 2.3 times as of March 31, 2023[46]. - The total assets less current liabilities amounted to HKD 3,940.186 million as of September 30, 2023, compared to HKD 3,910.354 million as of March 31, 2023[51]. - The group had cash and bank balances of HKD 3,225.654 million as of September 30, 2023, slightly down from HKD 3,267.883 million as of March 31, 2023[51]. - The group’s total equity attributable to equity shareholders was HKD 3,478.685 million as of September 30, 2023, compared to HKD 3,389.094 million as of March 31, 2023[51]. - The group’s financial position remains strong with a debt-to-equity ratio of zero times as of September 30, 2023[46]. - The group reported a profit of HKD 20.5 million from its investment portfolio, compared to HKD 4.7 million in the previous year[100]. Employee and Operational Costs - As of September 30, 2023, the group employed 754 staff, an increase from 740 in 2022[143]. - Total employee costs amounted to HKD 129.7 million, up from HKD 114.2 million in 2022, reflecting a significant increase in personnel expenses[143]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.10 per share, a 25% increase from the previous year's HKD 0.08[19]. - The group plans to distribute an interim dividend of HKD 0.10 per ordinary share, compared to HKD 0.08 in the previous year[1]. Market Challenges - The company anticipates a continued weak retail environment in Hong Kong due to declining consumer confidence and high interest rates, impacting customer spending negatively[21]. - The effective borrowing interest rate as of September 30, 2023, was 5.95%, up from 5.18% as of March 31, 2023[66]. - The group maintains significant non-committed short-term credit facilities with selected international banks, indicating a stable cash position and no expected large drawdowns in the second half of the fiscal year[144].
迪生创建(00113) - 2024 - 中期业绩