Hightlights:- Revenue increased by 19.6% to approximately HK$1,031.9 million.
- Gross profit increased by 30.7% to approximately HK$364.7 million, gross profit margin increased by 3.0 percentage points to 35.3%.
- Profit attributable to ownersof the Company increased by 261.5% to approximately HK$82.0 million.
- As at 30 Sep 2022, the Group operated a total of 144 chain retail stores, representing an increase of 15 stores as compared with the Corresponding Period Last Year
- Basic earnings per share was 8.2 cents. The Board recommended the payment of interim dividend of HK8.0 cents per share.
Financial Highlights:| For the 6 months ended 30 Sep |
| HK$’000 | 2022 | 2021 | Change |
| Revenue | 1,031,896 | 862,978 | +19.6% |
| Gross profit | 364,712 | 279,132 | +30.7% |
| Gross profit margin | 35.3% | 32.3% | +3.0 ppts. |
| Profit attributable to owners of the Company | 82,049 | 22,699 | +261.5% |
| Profit attributable to owners of the Company (Excluding non-recurring subsidy income) | 64,053 | 22,699 | +182.2% |
| Basic earnings per share (HK cents) | 8.2 | 2.3 | +256.5% |
| Interim dividend per share (HK cents) | 8.0 | 1.5 | +433.3% |
HONG KONG SAR -
Media OutReach - 24 November 2022 -
Best Mart 360 Holdings Limited (“Best Mart 360” or the “Company”, together with its subsidiaries, the “Group”; stock code: 2360.HK), a leading leisure food retailer in Hong Kong, announced its interim results for the six months ended 30 September 2022 (“the Period under Review”). During the Period under Review, the revenue recorded by the Group amounted to approximately HK$1,031,896,000 representing an increase of approximately 19.6% as compared to approximately HK$862,978,000 for the six months ended 30 September 2021 (the “Corresponding Period Last Year”). Profit attributable to owners of the Company amounted to approximately HK$82,049,000 during the Period under Review (for the six-month period ended 30 September 2021: approximately HK$22,699,000). Excluding the non-recurring income of approximately HK$17,996,000 received from the Hong Kong government under the Employment Support Scheme, the year-on-year increase would be approximately 182.2%. During the Period under Review, gross profit and gross profit margin of the Group were approximately HK$364,712,000 and 35.3%, representing an increase of 30.7% and 3.0 percentage points as compared to gross profits of approximately HK$279,132,000 and gross profit margin of approximately 32.3% for the Corresponding Period Last Year, respectively. The significant increases were mainly attributable to the Group maintaining an active expansion policy to increase the strategic footholds of physical stores, as well as the appropriate adjustments made by the Group to its sales strategy and optimization of its product structure which have resulted in a more diversified range of products. During the Period under Review, basic earnings per share of the Group was approximately HK8.2 cents (for the six months ended 30 September 2021: HK2.3 cents). The Board recommended the payment of interim dividend of HK8.0 cents per share.
BUSINESS REVIEWCHAIN RETAIL STORES As at 30 September 2022, the Group operated a total of 144 chain retail stores, comprising 141 “Best Mart 360˚” and three “FoodVille” stores (30 September 2021: 128 stores and one store, respectively). In terms of geographical coverage, as at 30 September 2022, the Group operated 136 stores, six stores and two stores in Hong Kong, Macau and Mainland China, respectively (30 September 2021: 124 stores, five stores and nil, respectively). During the Period under Review, the Company proactively expanded the footprint of its physical stores and has gradually rented larger retail spaces for stores over time. Also, the Company has gradually optimised its stores in line with the diversification of its product mix to enhance the brand image. The Group will continue to concentrate on increasing its presence in shopping arcades in community or residential areas and have taken into account the customer traffic and operational efficiency of each store at the same time to adopt a cautious approach in expansion. For the six months ended 30 September 2022, the ratio of rental expense (on a cash basis) to sales revenue of the Group’s retail stores was approximately 10.4%, representing a decrease of 1.4 percentage points as compared to approximately 11.8% for the Corresponding Period Last Year.
THE PRODUCTS During the Period under Review, the Group adhered to its global procurement policy by sourcing a broad spectrum of products worldwide to continue...
