Highlights:- Revenue increased by 21.8% to approximately HK$1,983.5million.
- Gross profit increased by 28.4% to approximately HK$667.7 million.
- Operating profit increased by 39.2% to approximately HK$141.5 million.
- Profit attributable to owners of the Company increased by 34.8% to approximately HK$109.8 million, if excluding the government subsidies of approximately HK$31.8 million, core net profit increased significantly by 121.0% YOY.
- As at 31 March 2022, the Group operated a total of 138 chain retail stores, including 130 retail stores in Hong Kong, 6 retail stores in Macau and 2 retail stores in Mainland China.
- Launched an aggregate of around 70 private label products, from which sales increased by 130.2% YOY.
- Strategically expands product range to cover more basic foodstuffs and necessities and enhance the development of private label products in the time of fighting against pandemic.
- Launched “FoodVille”, a new global gourmet brand and executed the expansion plan in the Greater Bay Area by setting up the first presence in the Mainland China market in Shenzhen.
- Basic earnings per share was 11.0 cents. The Board recommended the payment of final dividend of HK$8.0 cents per share.
Financial Highlights:| For the year ended 31 Mar |
| HK$’000 | 2022 | 2021 | Change |
| Revenue | 1,983,526 | 1,627,891 | +21.8% |
| Gross profit | 667,654 | 520,154 | +28.4% |
| Gross profit margin | 33.7% | 32.0% | +1.7 p.pt. |
| Operating profit | 141,493 | 101,668 | +39.2% |
| Profit attributable to owners of the Company | 109,804 | 81,449 | +34.8% |
| Profit attributable to owners of the Company (excluding government subsidies) | 109,804 | 49,677 | +121.0% |
| Basic earnings per share (HK cents) | 11.0 | 8.1 | +35.8% |
HONG KONG SAR -
Media OutReach -
24 June 2022 - Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leisure food retailer in Hong Kong, announced its annual results for the year ended 31 March 2022 (“Financial Year”). During the Financial Year under review, the revenue recorded by the Group amounted to approximately HK$1,983,526,000, representing an increase of approximately 21.8%. During the Year, the Group recorded a 7.3% growth in same store sales performance (2021: approximately 10.1% increase).During the Financial Year under review, gross profit for the year ended 31 March 2022 was approximately HK$667,654,000 (2021: approximately HK$520,154,000). Gross profit margin of the Group was approximately 33.7% (2021: 32.0%).Profit attributable to owners of the Company was approximately HK$109,804,000 (2021: approximately HK$81,449,000), representing an increase of approximately 34.8%, if excluding the government subsidies of approximately HK$31,772,000, core net profit increased significantly by 121%. The increase was mainly attributable to the substantial increase in the overall sales of the Group’s retail stores as compared to the corresponding period last year.During the Financial Year under review, basic earnings per share was 11.0 cents (2021: 8.1 cents). The Board recommended the payment of final dividend of HK$8.0 cents per share.BUSINESS REVIEWModerate expansion pace & expand footprint in residential areasAs at 31 March 2022, the Group operated a total of 138 chain retail stores, including 130 chain retail stores in Hong Kong (as at 31 March 2021: 120), six chain retail stores in Macau (as at 31 March 2021: four) and two chain retail stores in Mainland China (as at 31 March 2021: nil).Rental expense for retail stores in Hong Kong and Macau was approximately HK$212,136,000 for the year ended 31 March 2022, representing an increase of approximately 12.6% as compared with approximately HK$188,393,000 for the year ended 31 March 2021. The ratio of rental expense to sales revenue of retail stores was approximately 10.7%, which was lower than that of approximately 11.6% for the year ended 31 March 2021.Strategically adjusted product structure & kept enhancing the development of private label productsDuring the Financial Year under Review, the Group continued its global procurement policy and mission by sourcing a broad spectrum of products worldwide to meet and satisfy market trend and demand. To better cater to the daily needs of the local community in fighting against the pandemic, the Group further strengthened the supply of basic foodstuffs such as cereals, noodles, canned food, milk, frozen and chilled food, daily necessities and basic groceries, as well as anti-epidemic supplies, such as face masks, to better meet the daily needs of consumers in the local community. In addition, the Group continued to enhance the sale of its private labels in retail stores, including nuts and dried fruits, organic cereals, wet tissues, canned food, biscuit and snacks and other products, offering consumers a more diversified range of selections.For the year ended 31 March 2022, the Group procured quality products from overseas suppliers and brand owners or importers in Hong Kong...
Read more: Best Mart 360 Holdings Limited Announces FY2021/22 Annual Results; Core Net profit Surged...
