Financial Performance - The group's revenue for the year ended September 30, 2023, increased by approximately 16.0% to about HKD 976,600,000, primarily driven by strong demand for beauty services[46] - Net profit for the year was HKD 110,200,000, an increase of 64.9% compared to the previous fiscal year[46] - Basic earnings per share increased to 16.2 HK cents from 9.9 HK cents year-on-year[49] - The company reported a profit before tax of HKD 29,719,000 in 2023, compared to HKD 26,782,000 in 2022, reflecting a growth of 7.2%[57] - The company's earnings for the year ended September 30, 2023, showed a strong performance with a profit of 110,320,000 HKD, up from 67,432,000 HKD in 2022, reflecting a significant increase[89] Revenue Breakdown - Total revenue for 2023 reached HKD 976,572,000, up from HKD 841,936,000 in 2022, marking an increase of 16.0%[54] - The service segment generated revenue of HKD 823,757,000, up from HKD 671,789,000, reflecting a growth of about 22.6%[78] - The product sales segment reported revenue of HKD 180,806,000, down from HKD 204,764,000, indicating a decline of approximately 11.7%[78] - In 2023, skincare product sales generated revenue of HKD 152,815,000, a decrease of 10.5% from HKD 170,147,000 in 2022[54] Expenditure and Costs - The group reported a stable core expenditure year-on-year, with depreciation costs accounting for 4.8% of revenue, similar to the previous year[4] - Rental costs as a percentage of revenue decreased from 20.5% to 16.9%, reflecting a slowdown in rental levels due to market conditions[4] - Employee costs increased from 38.8% to 43.7% of revenue, despite a slight decrease in total employees from 1,112 to 1,073, indicating challenges in the Hong Kong labor market[4] - The marketing expenses slightly decreased to HKD 19,891,000 in 2023 from HKD 20,259,000 in 2022[57] - The company's bank fees increased significantly to HKD 35,027,000 in 2023 from HKD 25,448,000 in 2022, representing a rise of 37.5%[57] Dividends - The board proposed a final dividend of HKD 0.07 per share for the year ending September 30, 2023, subject to approval at the upcoming annual general meeting[26] - The company proposed a final dividend of 7.0 HK cents per share, totaling approximately HKD 47,639,000[63] - The company proposed a final dividend of 7.0 HKD cents per share, totaling 95,278,000 HKD for the year, compared to 51,041,000 HKD in the previous year[90] - Total dividends paid for the year amounted to approximately 98,680,000 HKD, down from 112,291,000 HKD in the previous year[105] Assets and Liabilities - The group has zero mortgage loan balance as of September 30, 2023, down from HKD 3.2 million in the previous year, indicating improved financial stability[18] - Total assets less current liabilities amounted to HKD 487,312,000, compared to HKD 509,951,000 in the previous year[41] - The total equity increased to HKD 312,878,000 from HKD 301,978,000 year-on-year[41] - The total liabilities decreased from HKD 751,209,000 to HKD 735,448,000[41] - The capital debt ratio was zero as of September 30, 2023, compared to 1.1% in 2022[101] Business Operations - As of September 30, 2023, the group operated 16 Glycel stores in Hong Kong and 2 in Macau, contributing to its product sales[9] - The group has successfully operated Oasis Dental since its opening in April 2022, contributing to its overall service offerings[7] - The company has successfully integrated major brands into flagship stores, operating 64 stores in Hong Kong at year-end, down from 69 stores last year[67] - The group operates a total of 54 beauty salons in Hong Kong, 2 in Macau, and 3 in mainland China[70] - The flagship medical beauty center in Causeway Bay has been expanded to over 7,000 square feet, providing a luxurious experience for customers[70] Growth and Future Plans - The group is preparing for further growth in the coming year, exploring new technologies and products at international trade fairs[15] - The group is focusing on growth in Hong Kong, citing significant development potential and plans for strategic investments in flagship stores[70] - The group plans to invest in new technology products and unique advanced equipment to offer tailored services to customers in Hong Kong[70] - The company plans to enhance marketing in targeted segments and strengthen its e-commerce business over the next year[119] - The company will launch several creative marketing campaigns in the coming months[119] Customer Engagement - Customer feedback has been extremely positive, with increased interest from potential customers due to various advertising and marketing initiatives[16] - The company experienced double-digit revenue growth in its beauty centers, attributed to new treatments and special promotions[68] - New product offerings included the 4D Pump device and the world's first HI-Frush technology, aimed at enhancing skin rejuvenation and collagen activation[68] - New treatments launched include entry-level medical beauty procedures and the AestheFill® injection, aimed at stimulating collagen production[91] Compliance and Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the fiscal year[132] - The company has not issued or granted any convertible securities or options during the fiscal year ending September 30, 2023[124] - The company has no significant contingent liabilities as of September 30, 2023[127] Cash Management - The group continues to maintain a prudent cash management approach, with assets valued at HKD 225 million as of September 30, 2023[18] - The company has a cash balance of approximately 271,800,000 HKD and a current ratio of 0.58:1 as of September 30, 2023[90] - As of September 30, 2023, the company had cash and bank deposits totaling approximately HKD 271,800,000, an increase from HKD 234,300,000 in 2022[120] Employee Management - The company employed 1,073 staff as of September 30, 2023, down from 1,112 in 2022, while maintaining a competitive compensation scheme[121] - The company continues to adopt a learning culture focused on employee training and development[128]
奥思集团(01161) - 2023 - 年度业绩