Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of HKD 640,215,000, an increase of 6.6% from HKD 600,596,000 in the previous year[1] - Gross profit for the same period was HKD 395,013,000, up from HKD 359,914,000, reflecting a gross margin improvement[1] - Operating profit increased to HKD 45,557,000, compared to HKD 39,927,000 in the prior year, marking a growth of 14.1%[1] - Net profit attributable to shareholders rose to HKD 42,113,000, a 9.4% increase from HKD 38,424,000 year-over-year[1] - Basic and diluted earnings per share increased to HKD 19.85, up from HKD 18.11, representing a growth of 9.6%[1] - The group reported a net profit of HKD 42,113 thousand for the year ending June 30, 2024, compared to HKD 38,424 thousand for the previous year, indicating an increase of about 7.5%[10] - The pre-tax profit increased by 19% to approximately HKD 48 million, driven by increased sales, strict cost control, and improved manufacturing productivity[22] - Net profit attributable to shareholders was approximately HKD 42 million, a 10% increase from approximately HKD 38 million in the previous year[22] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 832,566,000, an increase from HKD 792,867,000 in the previous year[3] - The total assets of the group as of June 30, 2024, amounted to HKD 832,566 thousand, up from HKD 792,867 thousand in the previous year, reflecting a growth of approximately 5%[10] - The group’s total liabilities as of June 30, 2024, were HKD 377,626 thousand, an increase from HKD 364,273 thousand in the previous year, indicating a rise of approximately 3.7%[10] Equity and Dividends - The company’s total equity increased to HKD 454,940,000 from HKD 428,594,000, reflecting a growth of 6.1%[4] - The company declared a final dividend of HKD 25,462,000, compared to HKD 19,097,000 in the previous year, indicating a significant increase in shareholder returns[4] - The board proposed a final dividend of HKD 0.12 per share, totaling approximately HKD 25.46 million, an increase from HKD 19.1 million last year[33] Cash Flow and Liquidity - The company reported a net cash position of HKD 129,551,000, a decrease from HKD 217,657,000, indicating a shift in liquidity management[3] - The company reported a total cash and bank balance of approximately HKD 263 million as of June 30, 2024, compared to HKD 218 million the previous year[32] Operational Highlights - The company’s inventory increased to HKD 49,515,000 from HKD 46,418,000, suggesting a strategic buildup in stock levels[3] - The group’s operating profit before tax for the year was HKD 47,788 thousand, compared to HKD 40,012 thousand in the previous year, marking an increase of around 19.4%[10] - The group’s employee benefit expenses increased to HKD 214,251 thousand in the year ending June 30, 2024, compared to HKD 203,638 thousand in the previous year, reflecting an increase of about 5.3%[11] - The company continued to invest in innovation, technology, and training to enhance performance and maintain employee health and safety as a priority[22] - The company upgraded its Oracle ERP system to enhance operational support and is focusing on further developing automated sales processes[29] Market Performance - The carpet business generated revenue of approximately HKD 625 million, a 7% increase from HKD 582 million last year[25] - Sales in Europe, the Middle East, and Africa recorded the highest growth of 12%, while Asia and the Americas saw increases of 7% and 3%, respectively[25] - The overall gross profit margin for the carpet business improved to 63%, up from 61% last year, due to economies of scale and improved productivity[25] Strategic Initiatives - The company launched its first natural product series, the Biophilic Program, reflecting its commitment to sustainability[22] - The company strategically opened new showrooms in Shanghai, Hong Kong, and London to enhance brand visibility and drive retail growth[30] - The company launched new creative product lines, including the Callidus Guild series and The Biophilic Program, showcasing innovative craftsmanship[30] Financial Management and Governance - The audit committee was established on September 23, 2005, consisting of two independent non-executive directors and one non-executive director[38] - The audit committee held four meetings during the year to review interim and annual reports, external auditor plans, and discuss financial reporting and risk management[38] - The preliminary financial statements for the year ending June 30, 2024, were reviewed by the audit committee and found to have no discrepancies compared to the amounts audited by KPMG[39] - The board of directors confirmed their responsibility for preparing the consolidated financial statements and found no events that would raise significant doubt about the company's ability to continue as a going concern[39] - The company will publish its annual report for 2023/2024 at an appropriate time, which will be sent to shareholders and posted on the company's website[41]
TAI PING CARPET(00146) - 2024 - 年度业绩