大家乐集团(00341) - 2024 - 中期财报

Financial Performance - The Group's revenue for the first half of FY2023/24 increased by 10.8% to HK$4,318.6 million, and profit attributable to shareholders increased by 84.4$200.6 million[7]. - Excluding government COVID-19 subsidies received last year, the Group's profit attributable to shareholders for the period under review was about three times that of the same period last year[7]. - Profit attributable to shareholders rose by 84.4% to HK$200.6 million, up from HK$108.7 million in 2022, with a 195.7% increase when excluding government COVID-19 subsidies[21]. - Basic earnings per share increased by 84.0% to HK34.6 cents, up from HK18.8 cents in 2022[26]. - The profit for the period reached HK$201,221, which is an increase of 84.7$108,767 in the previous year[89]. - The company reported a total comprehensive income of HK$201,442 for the period, significantly higher than HK$44,174 in the previous year[89]. Revenue Segments - Revenue from the Quick Service Restaurants segment was HK$2,565.4 million, a 9.3$2,348.0 million in 2022[13]. - Institutional Catering revenue increased by 21.0% to HK$457.6 million from HK$378.3 million in 2022[13]. - Revenue from the Casual Dining business increased by 8.5% to HK$449.1 million, compared to HK$414.0 million in the previous year[37]. - Revenue from Mainland China operations increased by 13.2% to HK$774.8 million, up from HK$684.2 million in the previous year[40]. - Sales of food and beverages for the six months ended September 30, 2023, reached HK$4,276,291, an increase of 11.1$3,849,198 in 2022[199]. Cost Management and Profitability - Gross profit margin improved to 12.1% for the six months ended 30 September 2023, compared to 8.8% in 2022, due to effective operating cost control and productivity enhancements[14]. - The Quick Service Restaurant business achieved substantial improvement in margins through operating cost control, manpower productivity enhancement, supply chain efficiency, strategic sourcing, and digitalisation[7]. - The Group is committed to improving margins through pricing strategy, menu management, and effective control of food costs[41]. Dividends and Shareholder Returns - An interim dividend of HK15 cents per share is declared for the six months ended 30 September 2023, compared to HK10 cents in 2022[7]. - The company declared an interim dividend of HK$87,856, compared to HK$58,570 for the same period last year, reflecting a positive outlook[87]. Operational Developments - The Group is focusing on network expansion in the Greater Bay Area to tap into the vast mass-market consumer segment[7]. - The Mainland China business recorded strong same store sales growth, particularly in the second quarter, despite economic challenges[7]. - The introduction of a plant-based series of dishes has attracted new consumer segments and increased patronage[31]. - Deployment of ordering kiosks and mobile ordering apps has enhanced customer experience and reduced manpower costs[34]. - The mobile ordering app was revamped, leading to significant growth in traffic and sales on the eatCDC.com platform[36]. Financial Position and Cash Flow - As of September 30, 2023, the Group had cash of approximately HK$1,117.7 million and available banking facilities of HK$1,949.3 million, with a current ratio of 0.8 and a cash ratio of 0.5[43]. - The Group's external borrowing decreased to HK$400 million from HK$980 million, maintaining a nil gearing ratio[43]. - The Group's cash and cash equivalents at the end of the period were HK$1,117,674,000, down from HK$1,580,382,000, reflecting a decrease of 29.3%[95]. - Net cash generated from operating activities for the six months ended 30 September 2023 was HK$820,703,000, a decrease of 6.5$877,786,000 in 2022[95]. Employee and Management Developments - The Group's workforce increased to 19,666 employees as of September 30, 2023, reflecting ongoing recruitment and talent development efforts[44]. - The Group continues to enhance training resources for employees, focusing on leadership and customer service skills to meet evolving customer demands[47]. - The Group has completed the handover of senior management across all business units to ensure knowledge transfer and operational experience[47]. Corporate Governance and Compliance - The company complied with all code provisions of the Corporate Governance Code during the six months ended September 30, 2023[79]. - The Audit Committee reviewed the accounting principles and practices adopted by the Group for the unaudited interim results for the six months ended September 30, 2023[79]. - The company’s financial reporting process and internal control are supervised by the Audit Committee, which comprises three Independent Non-executive Directors and two Non-executive Directors[79]. Future Outlook - The Group remains cautiously optimistic about performance and prospects in the second half of the year despite the ongoing economic recovery challenges[48]. - The company expects to continue its market expansion and product development strategies in the upcoming periods[200].