Proposed an interim dividend of HK11.0 cents per share
Highlights:- Revenue increased by approximately 10.6% to approximately HK$1,393.7 million as compared with the Corresponding Period Last Year.
- Gross profit increased by approximately 11.6% to approximately HK$507.9 million as compared with the Corresponding Period Last Year, gross profit margin increased to approximately 36.4%.
- Profit attributable to ownersof the Company increased by approximately 6.2% to approximately HK$122.6 million as compared with the Corresponding Period Last Year.
- As at 30 June 2024, the Group operated a total of 175 chain retail stores, representing a net increase of 8 stores during the Period under Review
- Basic earnings per share was approximately HK12.3 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.
Financial Highlights:| For the 6 months ended 30 Jun |
| HK$'000 | 2024 | 2023 | Change |
| Revenue | 1,393,691 | 1,260,244 | +10.6% |
| Gross profit | 507,938 | 455,147 | +11.6% |
| Gross profit margin | 36.4% | 36.1% | +0.3 p.p. |
| Profit attributable to owners of the Company | 122,567 | 115,445 | +6.2% |
| Interim dividend per share (HK cents) | 11.0 | 8.0 | +37.5% |
HONG KONG SAR -
Media OutReach Newswire - 27 August 2024 -
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 June 2024 ("the Period under Review"). As the Company changes the financial year end date from 31 March to 31 December, the interim results of the Company covered a six-month period from 1 January 2024 to 30 June 2024 and the corresponding comparative figures covered a six-month period from 1 April 2023 to 30 September 2023. Thus, the comparative figures may not be fully comparable. During the Period under Review, the revenue recorded by the Group amounted to approximately HK$1,393,691,000, representing an increase of approximately 10.6% as compared to approximately HK$1,260,244,000 for the six months ended 30 June 2023 (the "Corresponding Period Last Year"). Profit attributable to owners of the Company amounted to approximately HK$122,567,000 during the Period under Review (for the six-month period ended 30 June 2023: approximately HK$115,445,000), representing the period-on-period increase of approximately 6.2%. During the Period under Review, gross profit and gross profit margin of the Group were approximately HK$507,938,000 and 36.4%, representing an increase of approximately 11.6% and 0.3 percentage points, as compared to gross profits of approximately HK$455,147,000 and gross profit margin of approximately 36.1% for the Corresponding Period Last Year, respectively. The increase in gross profit and gross profit margin for sales was mainly due to the Group's continuous review and adjustment of sales tactics as well as product mix and cost optimization. During the Period under Review, basic earnings per share of the Group was approximately HK12.3 cents. The Board recommended the payment of interim dividend of HK11.0 cents per share.
BUSINESS REVIEWCHAIN RETAIL STORES As at 30 June 2024, the Group operated a total of 175 chain retail stores, including 168 chain retail stores in Hong Kong and 7 chain retail stores in Macau, respectively. During the Period under Review, the Group follows its store optimisation strategies, which include improving the stocking arrangement, product display and shop appearance, etc., to provide a better shopping experience and enhance the brand image. The Group is persevering its search for stores in various districts to extend its retail coverage. The Group launched a new global wine and food shop "FoodVille" in 2021, which focuses on medium-to-high-end global quality food products, including fine wines from around the world, premium chocolates, health food, frozen food, western sauces and ingredients, etc., in order to cater to the market's pursuit of a high quality of life and broaden the Company's customer bases. As at 30 June 2024, the Group operated 7 shops under the relevant retail brands. For the six months ended 30 June 2024, the ratio of rental expense (on cash basis) to sales revenue of the Group's retail stores was approximately 9.5%.
THE PRODUCTS During the Period under Review, the Group adhered to its global procurement policy by sourcing a broad spectrum of products worldwide to provide a diversified range of choices for customers. For the six months ended 30 June 2024, the Group has sold more than 1,150 brands and over 3,237 stock keeping units ("SKUs") of products in total, offering customers a diversified range of choices. The...
