Financial Performance - The group's revenue for the six months ended December 31, 2024, was approximately HKD 308,356,000, representing a 1% increase from HKD 306,417,000 in the same period last year[4] - Operating profit for the same period was HKD 28,060,000, up from HKD 22,036,000, marking a significant improvement[4] - Profit attributable to the company's owners was HKD 21,697,000, slightly down from HKD 22,274,000, with earnings per share at HKD 10.23 compared to HKD 10.50 last year[4][6] - Revenue from external customers for the six months ended December 31, 2024, was HKD 308,356,000, an increase of 0.6% compared to HKD 306,417,000 for the same period in 2023[32] - Gross profit for the group was HKD 193,668,000, reflecting an increase from HKD 190,552,000, representing a growth of approximately 1.6%[32] - Operating profit increased to HKD 28,060,000 from HKD 22,036,000, marking a growth of about 27.3%[32] - Net profit for the period was HKD 21,697,000, compared to HKD 22,274,000, a decrease of approximately 2.6%[34] - Basic earnings per share decreased to HKD 10.23 for the six months ended December 31, 2024, compared to HKD 10.50 in 2023[44] Business Operations - The carpet business generated sales of approximately HKD 302,000,000, a 1% increase from HKD 299,000,000, with Asian and US sales growing by 10% each[7] - The group reported a pre-tax profit of approximately HKD 30,000,000, a 30% increase from HKD 23,000,000, despite a one-time loss of HKD 6,000,000 related to a strategic decision[6] - The group plans to expand its US production base and strengthen brand influence in trade and consumer markets despite ongoing global economic uncertainties[11] Financial Position - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately HKD 233,000,000, down from HKD 263,000,000 as of June 30, 2024[14] - Total assets decreased from HKD 832,566,000 to HKD 820,354,000, a decline of approximately 1.5%[25] - Total equity decreased from HKD 454,940,000 to HKD 445,390,000, a decline of about 2.4%[27] - The company reported a decrease in inventory from HKD 49,515,000 to HKD 52,457,000, an increase of approximately 5.5%[25] - The company’s lease liabilities increased from HKD 88,320,000 to HKD 114,304,000, reflecting a rise of about 29.4%[27] - The company’s cash and cash equivalents decreased from HKD 133,772,000 to HKD 125,423,000, a decline of approximately 6.3%[25] - Trade receivables net amount as of December 31, 2024, was HKD 61,918,000, down from HKD 72,030,000 as of June 30, 2024[46] - Trade payables as of December 31, 2024, totaled HKD 127,397,000, a decrease from HKD 169,626,000 as of June 30, 2024[48] Capital Expenditures - Capital expenditures for the period totaled approximately HKD 9,000,000, consistent with the previous year[13] - Capital expenditures for the six months ended December 31, 2024, totaled HKD 8,972,000, compared to HKD 8,633,000 in the previous year, indicating a slight increase of 3.9%[32] Taxation and Income - Total income tax expense for the six months ended December 31, 2024, was HKD 7,925,000, significantly higher than HKD 476,000 in 2023, with Hong Kong tax contributing HKD 3,777,000[41] Dividends and Reserves - The board decided not to declare any interim dividend for the six months ended December 31, 2024, consistent with the previous year[42] - The company's distributable reserves as of December 31, 2024, were approximately HKD 488,453,000, down from HKD 522,359,000 in 2023[42] Governance and Compliance - The company has complied with the corporate governance code and maintained good corporate governance practices throughout the reporting period[50] Workforce - The group maintained a stable workforce of 746 employees, with a focus on retaining talent during economic and political uncertainties[18]
TAI PING CARPET(00146) - 2025 - 中期业绩