大快活集团(00052) - 2023 - 年度业绩

Financial Performance - The annual profit for the year was HKD 44.9 million, an increase of 5.3% compared to last year (HKD 42.6 million) [2] - Revenue for the year was HKD 3.024 billion, representing a growth of 4.9% from HKD 2.882 billion in the previous year [2] - Basic earnings per share increased to HKD 0.3464, up 5.3% from HKD 0.3291 in the previous year [2] - The group reported a pre-tax profit of HKD 51.664 million for the year ending March 31, 2023, compared to HKD 47.804 million in 2022, representing an increase of 5.8% [58] - Profit attributable to equity shareholders rose by 5.3% to HKD 44.9 million (2022: HKD 42.6 million) [94] - The group's comprehensive pre-tax profit for 2023 was HKD 51,664,000, an increase from HKD 47,804,000 in 2022, indicating a positive trend in profitability [83] Dividends - The proposed final dividend is HKD 0.40 per share, with a special final dividend of HKD 0.05 per share, resulting in a total annual dividend of HKD 0.63 per share and a payout ratio of approximately 182% [2] - The board proposed a final dividend of HKD 0.40 per share and a special final dividend of HKD 0.05 per share, totaling an annual dividend of HKD 0.63 per share, which represents approximately 182% of the group's annual profit [24] - The company declared an interim dividend of HKD 0.18 per share and a proposed final dividend of HKD 0.40 per share [90] Financial Position - The group maintained a strong financial position with cash and cash equivalents amounting to HKD 646.8 million as of March 31, 2023, up from HKD 557.1 million in the previous year [2] - The company maintains a strong financial position with no borrowings, thus not affected by interest rate risks [30] - The group has no bank loans and a debt ratio of zero as of March 31, 2023 [2] - The maximum debt obligation under guarantees for bank standby credits was HKD 88.9 million, with no significant risk of claims anticipated [22] - The group's total current assets as of March 31, 2023, amounted to HKD 792,447,000, an increase from HKD 769,484,000 in 2022, while total current liabilities rose to HKD 817,224,000 from HKD 782,322,000 [74] Store Operations - The group opened 7 new stores and closed 5 stores, resulting in a total of 147 fast-food outlets in Hong Kong by the end of the year [44] - The company opened 12 new stores during the year, with 8 located in Hong Kong and 4 in mainland China, while closing 10 underperforming stores [121] - As of March 31, 2023, the company operates a total of 179 stores, including 157 in Hong Kong and 22 in mainland China [121] Cost Management - The group faced significant challenges due to rising food costs and labor shortages, prompting cost-reduction measures such as sourcing directly from reliable suppliers [119] - The group has optimized packaging, particularly for takeaway items, to reduce costs and improve efficiency [119] - The group has negotiated more favorable leasing terms with landlords to alleviate operational pressures [119] - The company has implemented detailed cost-saving and productivity improvement strategies that have been effective over the years and will continue to be enforced [31] Customer Engagement - The company launched the "Dai Hoi Hoi APP" to attract younger customers, with over 500,000 members registered by year-end [96] - The company held a 50th anniversary celebration to promote post-pandemic business recovery, achieving 5.2 million total views on social media [95] - The group experienced a strong sales boost from the reintroduction of seven nostalgic menu items during its anniversary celebration [118] - Same-store sales growth increased by approximately 5% year-on-year, with a stable growth in customer per capita spending [120] - Takeaway sales accounted for about 36% of total sales, higher than pre-pandemic levels, indicating its continued importance in the business [120] Employee Management - The group launched a 50th-anniversary employee appreciation campaign, including various activities to improve employee retention and morale [97] - The group implemented digital training programs for employees to enhance skills and career opportunities, addressing high employee turnover in the restaurant industry [97] Challenges and Outlook - The company is optimistic about the performance of its mainland business in the coming months, despite challenges in refining its business model [31] - The company anticipates that food costs and labor-related pressures will not decrease in the near future [31] - The group's same-store sales in mainland China decreased by 7% due to pandemic-related restrictions, significantly impacting business operations [98] - The group continues to open new stores in mainland China, with a focus on smaller locations and a higher proportion of takeaway sales, aiming to enhance profitability despite lower sales intensity [98] Asset Management - The group recorded a net impairment loss on property, plant, and equipment of HKD 14,033,000 in 2023, down from HKD 18,960,000 in 2022, indicating an improvement in asset management [83] - The group reported a net loss from investment properties of HKD 4,840,000 in 2023, compared to a loss of HKD 1,730,000 in 2022, representing a significant increase in losses [83] - Other income for the group in 2023 was HKD 41,514,000, a decrease from HKD 76,263,000 in 2022, showing a decline of approximately 45.5% [85] Capital Expenditure - Capital expenditure for the year was approximately HKD 104.7 million, an increase from HKD 74.6 million in the previous year, attributed to new store openings and renovations [37] - Financing costs recorded during the reporting period were HKD 31.7 million, a slight decrease from HKD 32.4 million in the previous year [35] - Depreciation expenses for other properties, machinery, and equipment decreased by HKD 1.8 million to HKD 89.1 million due to reduced renovation works [34]