Financial Performance - The group's consolidated revenue for the period was approximately HKD 308 million, a 1% increase compared to HKD 306 million in the same period last year [5]. - Profit before tax for the period was approximately HKD 30 million, a 30% increase from HKD 23 million in the previous year, despite a one-time loss of HKD 6 million related to a strategic decision to terminate the use of an asset in New York [6]. - Revenue for the six months ended December 31, 2024, was HKD 308,356,000, a slight increase from HKD 306,417,000 in the same period of 2023, representing a growth of 0.6% [44]. - Gross profit for the same period was HKD 191,624,000, compared to HKD 189,403,000 in 2023, indicating a growth of 1.2% [44]. - Operating profit increased to HKD 28,060,000 from HKD 22,036,000, reflecting a significant growth of 27.3% year-over-year [44]. - The group achieved a gross profit of HKD 193,668,000 for the six months ended December 31, 2024, compared to HKD 190,552,000 in the previous year, representing a year-on-year increase of 1.6% [77]. - The group reported a net profit of HKD 22,274,000 for the six months ended December 31, 2024, compared to HKD 22,274,000 for the same period in 2023, showing no growth [56]. - The group’s net profit for the period was HKD 21,697,000, compared to HKD 22,274,000 in the previous year, showing a slight decline of 2.6% [80]. Profitability Metrics - The gross profit margin for the period remained stable at 62% [5]. - Basic earnings per share for the period was HKD 10.23, down from HKD 10.50 in the previous year, a decline of 2.6% [44]. - Profit attributable to owners of the company for the period was HKD 21,697,000, slightly down from HKD 22,274,000 in 2023, a decrease of 2.6% [44]. - The company's net cash generated from operating activities for the six months ended December 31, 2024, was HKD 16,749,000, a decrease of 62.9% compared to HKD 45,138,000 for the same period in 2023 [59]. Capital Expenditures and Investments - Capital expenditures for the period totaled approximately HKD 9 million, consistent with the previous year [15]. - Capital expenditures for the six months ended December 31, 2024, totaled HKD 8,972,000, compared to HKD 8,633,000 in the same period of 2023, indicating an increase of 3.9% [80]. - The company’s cash flow from investing activities showed a net inflow of HKD 18,610,000 for the six months ended December 31, 2024, compared to a net outflow of HKD 35,057,000 in the previous year [59]. Assets and Liabilities - Total assets as of December 31, 2024, were HKD 820,354,000, a decrease from HKD 832,566,000 as of June 30, 2024, representing a decline of 1.5% [50]. - Current assets decreased to HKD 383,182,000 from HKD 413,179,000, indicating a decline of 7.3% [50]. - Total liabilities decreased slightly from HKD 377,626,000 as of June 30, 2024, to HKD 374,964,000 as of December 31, 2024, indicating a reduction of about 0.4% [53]. - The group’s total liabilities as of December 31, 2024, included trade and other payables of HKD 58,124,000 and lease liabilities of HKD 163,052,000, indicating a total liability of HKD 221,176,000 [73]. Cash and Cash Equivalents - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately HKD 233 million, down from HKD 263 million as of June 30, 2024 [17]. - Cash and cash equivalents decreased from HKD 193,697,000 at the end of 2023 to HKD 125,423,000 at the end of 2024, a decline of approximately 35.3% [59]. - The group reported cash and cash equivalents of approximately HKD 125,423,000 as of December 31, 2024, compared to HKD 133,772,000 as of June 30, 2024, indicating a decrease in liquidity [71]. Employee and Management Compensation - The total number of employees as of December 31, 2024, was 746, a slight increase from 740 at the end of June 2024 [20]. - The company reported a salary and short-term employee benefits for key management of HKD 22,044,000, an increase from HKD 20,311,000 year-on-year [111]. Dividends and Shareholder Returns - The board did not recommend an interim dividend for the period, consistent with the previous year [14]. - The company did not recommend an interim dividend for the six months ended December 31, 2024 [30]. - The company paid dividends of HKD 25,462,000 during the period, an increase from HKD 19,097,000 in the previous year, reflecting a rise of 33.3% [59]. - The company's distributable reserves as of December 31, 2024, were approximately HKD 488,453,000, a decrease from HKD 522,359,000 in 2023, with no dividends declared for the period [88]. Strategic Initiatives - The group plans to expand its US production base and strengthen brand influence in trade and consumer markets despite ongoing global economic uncertainties [13].
TAI PING CARPET(00146) - 2025 - 中期财报