Financial Performance - Total revenue for the six months ended March 31, 2025, decreased by 2.2% to approximately HKD 492,200,000 compared to HKD 503,400,000 for the same period last year[4] - Net profit rose from HKD 40,100,000 to HKD 55,500,000 compared to the same period last year[4] - Total revenue for the six months ended March 31, 2025, was HKD 492,241,000, a decrease from HKD 503,434,000 in the same period of 2024, representing a decline of approximately 2.4%[19] - Revenue from the product segment (skincare sales) was HKD 70,710,000 for the six months ended March 31, 2025, compared to HKD 92,810,000 in 2024, indicating a decrease of about 24%[20] - Revenue from the service segment (providing beauty treatment services) was HKD 432,302,000 for the six months ended March 31, 2025, up from HKD 423,252,000 in 2024, reflecting an increase of approximately 2.5%[20] - The group’s operating profit before tax for the six months ended March 31, 2025, was HKD 71,235,000, compared to HKD 53,455,000 in the same period of 2024, showing an increase of approximately 33.2%[20] Profitability Metrics - Gross profit margin increased from 90.2% to 92.0%, with beauty services accounting for 87.8% of total sales, up from 84.1% last year[4] - Basic earnings per share increased to HKD 8.2 cents from HKD 5.9 cents, showing a growth of approximately 39.0%[12] - Total comprehensive income for the period was HKD 53,123,000, compared to HKD 40,223,000 in the previous period, marking an increase of approximately 32.2%[13] - The company reported other income of HKD 10,361,000, up from HKD 8,115,000, indicating a growth of approximately 27.7%[12] Cash and Liquidity - The group maintained a cash balance of approximately HKD 632,500,000 as of March 31, 2025[4] - The company's cash and cash equivalents increased to HKD 632,545,000 from HKD 485,156,000, representing a growth of about 30.4%[14] - The capital debt ratio remains at zero as of March 31, 2025, indicating no outstanding loans[49] - The company maintained a prudent financial management strategy, ensuring a healthy liquidity position throughout the review period[55] Dividend Policy - The interim dividend for the six months ended March 31, 2025, is proposed at HKD 0.035 per share, consistent with the previous year[4] - The board declared an interim dividend of HKD 0.035 per share for the six months ended March 31, 2025[34] - Total interim dividend payable for the year ended September 30, 2024, was approximately 13,611,000 HKD, compared to 47,639,000 HKD for the year ended September 30, 2023[29] Market Outlook and Strategy - The group expects the current market environment to remain weak in the foreseeable future but remains confident in achieving strong performance in the next six months[11] - The company plans to focus on market expansion and new product development in the upcoming quarters[12] - The group anticipates a challenging economic environment in Hong Kong, affecting consumer discretionary spending and overall market conditions[43] - The company plans to continue its prudent dividend policy, emphasizing cash liquidity to ensure stability and flexibility for future opportunities[11] Operational Insights - The group operates 53 beauty centers in Hong Kong, including various brands and services, reflecting stable performance despite macroeconomic challenges[8] - The group operates in Hong Kong, Macau, and mainland China, indicating a diversified geographical presence[22] - The group has reduced retail exposure of product brands, focusing on high-margin beauty services, resulting in a decline in product sales due to a weak retail market[42] Cost Management - Employee costs were reported at HKD 227,323,000, slightly down from HKD 229,672,000, reflecting cost management efforts[12] - Rental costs as a percentage of revenue significantly decreased from 16.1% to 14.4% due to strategic store closures and lower rental levels in a weak retail market[38] - Employee count reduced from 1,011 to 903, with employee costs as a percentage of revenue slightly increasing from 45.6% to 46.2%[39] Taxation - The current tax expense for the period was HKD 14,940,000, compared to HKD 14,018,000 in the previous year, indicating an increase of about 6.5%[24] - Deferred tax expense was HKD 810,000 for the period, compared to a benefit of HKD (630,000) in the previous year[24] - The tax rate for profits exceeding 2,000,000 HKD is 16.5%, while profits up to that amount are taxed at 8.25%[25] - The corporate income tax rate in China is set at 25% for the year 2024[25] Governance and Compliance - The company complied with the corporate governance code during the review period[63] - All directors confirmed adherence to the standards for securities trading during the review period[64] - The audit committee reviewed the accounting principles and practices adopted by the group for the six months ending March 31, 2025[61]
奥思集团(01161) - 2025 - 中期业绩