DJ HK Bourse: Results Announcement From International Housewares Retail Co. Ltd.
For full details, please click on the following link:
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0729/2020072900770.pdf ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 30 APRIL 2020
The board of directors (the "Board" or "Directors") of International Housewares Retail
Company Limited (the "Company" or "we" ) is pleased to announce the consolidated annual
results of the Company and its subsidiaries (collectively referred to as the "Group") for the year
ended 30 April 2020 (the "Year") prepared in accordance with the relevant requirements of the
Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the
"Listing Rules" and the "Stock Exchange" respectively), together with comparative figures for
the financial year ended 30 April 2019 ("2018/19").
HIGHLIGHTS The Group's revenue increased by 8.2% to HK$2,542,384,000 (2018/19: HK$2,350,351,000). Profit attributable to owners of the Company increased by 26.8% to HK$150,927,000 (2018/19: HK$119,052,000)(1). The Group's gross profit rose by 9.6% to HK$1,184,161,000 (2018/19: HK$1,080,654,000), while gross profit margin was 46.6% (2018/19: 46.0%). The Board has resolved to recommend payment of a final dividend of HK11 cents per share. Together with the interim dividend of HK5.5 cents per share already paid, the total dividend for the Year would be HK16.5 cents per share (2018/19: HK14.3 cents per share).
Note:
1. Comparative figures for the financial year ended 30 April 2019 are shown as 2018/19 in brackets. 1
CORPORATE PROFILE
Established in 1991, the Group is the largest houseware retail chain in Hong Kong, Singapore
and Macau (1). It offers houseware, trendy items, personal care, snack and household FMCG
through an extensive retail network comprising 378 stores in Hong Kong, Singapore, Macau,
East Malaysia, Cambodia, Australia and Vietnam under renowned brands including JHC (
), Japan Home (), 123 by ELLA, $MART (), City Life () as well
as online platforms JHC eshop () and EasyBuy (). Leveraging its extensive
sourcing channels and series of private label products, the Group provides a full range of items
at competitive prices, creating a "one-stop" shopping experience for customers, and paving the
road to transform itself to become a chain of general merchandise stores (GMS).
FINANCIAL PERFORMANCE
The Group continued to expand product offerings and introduce new product categories from
snacks as well as FMCG such as personal and home care items during the Year to capture
additional market opportunities and enlarge its customer base. In addition, driven by the growth
in overall comparable store sales, opening of new stores and the increase of foot traffic brought
about by new product categories mentioned above, the Group's revenue rose by 8.2% to a
historical high at HK$2,542,384,000 (2018/19: HK$2,350,351,000).
The Group's gross profit rose by 9.6% to HK$1,184,161,000 (2018/19: HK$1,080,654,000),
while gross profit margin was 46.6% (2018/19: 46.0%). Profit attributable to owners of the
Company increased by 26.8% to HK$150,927,000 (2018/19: HK$119,052,000), mainly due to
the Group's continued efforts in expanding its product portfolio, while constantly monitoring
purchase prices and the logistics costs of its sourcing activities, as well as prudently managing
operating expenses. Furthermore, the Singapore business has turned around to a profit making
position and the positive financial contribution in the market added momentum for sound
growth.
LIQUIDITY AND FINANCIAL RESOURCES
As at 30 April 2020, the Group maintained a strong financial position with cash and cash
equivalents of HK$362,737,000 (30 April 2019: HK$369,703,000). Most of the Group's cash
and bank deposits were denominated in Hong Kong dollars, and were deposited with major
banks in Hong Kong with maturity dates falling within three months.
The significant increase of finance expenses is totally due to the adoption of a new accounting
standard HKFRS 16 "Leases" for the Year. After removing the impact so arising, the Group's
finance expenses were HK$736,000 (2018/19: HK$793,000).
The Group implements a stable treasury management policy and does not engage in any highly
leveraged or speculative derivative products. It places most of its surplus cash in Hong Kong
dollar bank deposits with appropriate maturity period for meeting future funding requirements.
The current ratio of the Group was 1.4 (2) (30 April 2019: 2.7). Total borrowings amounted to
HK$22,617,000 as at 30 April 2020 (30 April 2019: HK$39,816,000). The Group was in a net
cash position as at 30 April 2020 and its gearing ratio as determined by total borrowings and
loans from non-controlling shareholders divided by total equity was 3.3% (30 April 2019:
5.6%). 2
LIQUIDITY AND FINANCIAL RESOURCES (continued)
Notes: In terms of revenue and number of stores the Group operated in the calendar year 2012 according to the
1. Frost & Sullivan Report. There were significant increases in right-of-use assets as well as non-current and current portions of lease
2. liabilities under consolidated balance sheet as at 30 April 2020 reported under HKFRS 16 Leases (new standard). Related comparative figures for the financial year ended 30 April 2019 has not been restated, and they were prepared under HKAS 17 "Leases". Hence, comparison between the figures prepared under different bases of reporting would not be meaningful.
OPERATING EFFICIENCIES
Although the operating environment was challenging, the Group achieved satisfactory
comparable store sales growth(1) in Hong Kong of 4.6% (2018/19: 4.8%) during the Year.
The Group launched the in-store online shopping iPanel "Easy Buy". This not only enables the
sharing of inventory for on- and off-line channels, but also gives greater flexibility in choosing
retail spaces and controlling overall rental expenses. In addition, with strong brand recognition
and product popularity among customers, the Group has more flexibility in choosing new store
sites, and hence it has been able to control rental expenses on its operation to meet the
requirement for future business growth.
In addition, to mitigate the effects of the increase of employee expenses during the Year, the
Group offers training programmes to employees to maximise their productivity and they are
redeployed to different stores from time to time for monitoring store man-hour expenses. As a
result, the Group was able to maintain employee expenses at a stable level as a percentage of
revenue for the Year.
Despite such difficulties, with a brand well-recognised and products well-appreciated by
customers, the Group has achieved record high revenue for the Year. Moreover, through the
above-mentioned efforts and prudence exercised in managing expenses, the Group was able to
reduce operating expenses as a percentage of revenue during the Year to 39.5% (2018/19:
40.8%).
The following table provides details of the Group's operating expenses:
For the Year Ended 30 April 2020 2019 (%) of (%) of Change HK$ revenue HK$ revenue (%)
Distribution and advertising expenses 64,091,000 2.5% 59,176,000 2.5% 8.3%
Administrative and other operating expenses 941,809,000 37.0% 900,620,000 38.3% 4.6%
Total operating expenses 1,005,900,000 39.5% 959,796,000 40.8% 4.8%
Note:
1. Comparable store sales growth represents a comparison between the store sales of those stores that were open throughout the years being compared. 3
DISTRIBUTION NETWORK
Established in 1991, the Group is the largest houseware retail chain in Hong Kong, Singapore
and Macau(1). It offers houseware, trendy items, personal care, snack and household FMCG
through an extensive retail network comprising 378 stores in Hong Kong, Singapore, Macau,
East Malaysia, Cambodia, Australia and Vietnam under renowned brands including JHC (
), Japan Home (), 123 by ELLA, $MART (), City Life () as well
as online platforms JHC eshop () and EasyBuy (). Leveraging its extensive
sourcing channels and series of private label products, the Group provides a full range of items
at competitive prices, creating a "one-stop" shopping experience for customers, and paving the
road to transform into a chain of general merchandise stores (GMS).
The cumulative brand awareness that the Group has enjoyed over the years, its steadily-growing
extensive retail network and large global supplier network have contributed and will continue to
contribute to steady business development. For store network development, taking into account
an overall rental adjustment becoming more widespread and the HKSAR Government stepping
up efforts to increase housing supply, the Group will continue to look for suitable locations for
opening new stores, particularly in newly-developed residential districts and housing estates.
We believe these moves shall enable us to further increase our share of the Hong Kong retail
market and maintain its position as one of the largest houseware retail chains in the region.
(MORE TO FOLLOW) Dow Jones Newswires
July 29, 2020 06:05 ET (10:05 GMT)
DJ香港交易所:國際家居用品零售有限公司公佈業績。
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Https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0729/2020072900770.pdf公佈截至2020年4月30日的年度業績
國際家居用品零售的董事會(“董事會”或“董事”)
本公司(“本公司”或“本公司”)欣然宣佈
本公司及其附屬公司(統稱“集團”)本年度業績
截至2020年4月30日(“該年度”)
香港聯合交易所有限公司(“聯交所”)證券上市規則
“上市規則”及“聯交所”),以及
截至2019年4月30日的財政年度(“2018/19年”)。
重點介紹集團收入增長8.2%至2,542,384,000港元(2018/19年度:2,350,351,000港元)。本公司業主應占溢利增加26.8%至150,927,000港元(2018/19年度:119,052,000港元)(1)。集團毛利增長9.6%至1,184,161,000港元(2018/19年度:1,080,654,000港元),毛利率為46.6%(2018/19年度:46.0%)。董事會已決議建議派發末期股息每股11港仙。連同已支付的中期股息每股5.5港仙,本年度的總股息將為每股16.5港仙(2018/19年度:每股14.3港仙)。
注:
1.括號內顯示2018/19年截至2019年4月30日財政年度的比較數字。1個
公司概況
集團成立於1991年,是香港、新加坡最大的家居用品零售連鎖店。
澳門(1)。它提供家居用品、時尚用品、個人護理、零食和家用快速消費品。
通過在香港、新加坡、澳門擁有378家門店的廣泛零售網絡,
東馬來西亞、柬埔寨、澳大利亞和越南,旗下知名品牌包括JHC(JHC.N:行情).
),Japan Home(),Ella的123,$MART(),City Life()
作為在線平台JHC eShop()和EasyBuy()。利用其廣泛的
採購渠道和自有品牌系列產品,集團提供全系列產品
以極具競爭力的價格,為顧客創造“一站式”購物體驗,併為
轉變為百貨連鎖店(GMS)的道路。
財務業績
集團繼續擴大產品供應,並推出新的產品類別,從
零食和快速消費品,如個人和家庭護理用品,在一年內捕獲
增加市場機會,擴大客户基礎。此外,在增長的推動下,
在整體可比門店銷售額中,新門店的開業和客流量的增加帶來
按上述新產品類別劃分,本集團的收入上升8.2%至
歷史新高為2,542,384,000港元(2018/19年度:2,350,351,000港元)。
集團毛利增長9.6%至1,184,161,000港元(2018/19年度:1,080,654,000港元),
而毛利率為46.6%(2018/19年度:46.0%)。業主應占利潤
公司增長26.8%,至150,927,000港元(2018/19年度:119,052,000港元),主要原因是
集團在擴大產品組合方面的持續努力,同時不斷監測
採購價格和採購活動的物流成本,以及審慎管理
運營費用。此外,新加坡的業務已經扭虧為盈。
市場的地位和積極的財政貢獻增加了穩健的勢頭
成長。
流動資金和財政資源
於二零二零年四月三十日,本集團以現金及現金維持穩健的財務狀況
等值為港幣362,737,000元(2019年4月30日:港幣369,703,000元)。集團大部分現金
銀行存款以港元計價,存入主要銀行。
到期日在3個月以內的香港銀行。
財務費用的大幅增加完全是由於採用了新的會計制度。
本年度標準香港財務報告準則第16份“租約”。剔除因此而產生的影響後,本集團的
財務支出為736,000港元(2018/19年度:793,000港元)。
本集團實行穩定的資金管理政策,不從事任何高度的
槓桿或投機性衍生產品。它將大部分盈餘現金放在香港。
具有適當期限的美元銀行存款,以滿足未來的資金需求。
本集團流動比率為1.4(2)(2019年4月30日:2.7)。借款總額為
於2020年4月30日:22,617,000港元(2019年4月30日:39,816,000港元)。小組在一張網裏
截至2020年4月30日的現金狀況及其按借款總額和負債比率釐定的負債比率
來自非控股股東的貸款除以總股本為3.3%(2019年4月30日:
5.6%). 2
流動資金和財政資源(續)
注:以收入及門店數目計算,本集團於二零一二歷年根據
1.Frost&Sullivan報告。使用權資產以及租賃的非流動和流動部分大幅增加。
2.於2020年4月30日根據香港財務報告準則第16號租約(新標準)呈報的綜合資產負債表下的負債。截至2019年4月30日止財政年度的相關比較數字並無重述,乃根據香港會計準則第17號“租約”編制。因此,在不同的報告基礎下編制的數字之間的比較是沒有意義的。
運營效率
雖然經營環境充滿挑戰,但集團的業績令人滿意。
年內香港可比門店銷售額增長(1)4.6%(2018/19年度:4.8%)。
集團推出店內網上購物iPanel“易購”。這不僅使
共享在線和離線渠道的庫存,而且在選擇方面也提供了更大的靈活性
零售空間和控制總體租賃費用。此外,擁有很強的品牌認知度
產品受客户歡迎,集團在選擇新店方面有更大的靈活性
因此,該公司已能夠控制其運作的租金開支,以滿足
對未來業務增長的要求。
此外,為紓緩年內員工開支增加的影響,
集團為員工提供培訓計劃,以最大限度地提高他們的工作效率,他們
不時地重新部署到不同的門店,以監控門店的工時費用。作為一個
結果,集團能夠將員工支出保持在穩定的水平,其百分比為
全年收入。
儘管困難重重,但憑藉品牌的知名度和產品的好評度,
作為客户的一部分,本集團實現了本年度創紀錄的收入。此外,通過
在上述努力和審慎管理開支的情況下,集團得以
將本年度運營費用佔收入的百分比降至39.5%(2018/19年:
40.8%).
下表提供了集團運營費用的詳細情況:
截至二零二零年四月三十日止年度(%)變動(%)港元收入(%)港元收入(%)
分銷和廣告費用64,091,000 2.5%59,176,000 2.5%8.3%
行政及其他營運開支941,809,000 37.0%900,620,000 38.3%4.6%
總運營費用1,005,900,000 39.5%959,796,000 40.8%4.8%
注:
1.可比門店銷售增長是指比較那些在被比較的年份中開業的門店的門店銷售額之間的比較。3個
配電網
集團成立於1991年,是香港、新加坡最大的家居用品零售連鎖店。
澳門(1)。它提供家居用品、時尚用品、個人護理、零食和家用快速消費品。
通過在香港、新加坡、澳門擁有378家門店的廣泛零售網絡,
東馬來西亞、柬埔寨、澳大利亞和越南,旗下知名品牌包括JHC(JHC.N:行情).
),Japan Home(),Ella的123,$MART(),City Life()
作為在線平台JHC eShop()和EasyBuy()。利用其廣泛的
採購渠道和自有品牌系列產品,集團提供全系列產品
以極具競爭力的價格,為顧客創造“一站式”購物體驗,併為
轉變為百貨連鎖店(GMS)的道路。
集團多年來累積的品牌知名度,其穩步增長的
廣泛的零售網絡和大型的全球供應商網絡已經並將繼續做出貢獻
為穩定的業務發展做出貢獻。對於門店網絡發展,考慮到
整體租金調整範圍更廣,香港特別行政區政府出手
加強增加房屋供應,集團會繼續物色合適地點興建
開設新的商店,特別是在新開發的住宅區和住宅區。
我們相信,這些舉措將使我們在香港零售業的份額進一步提高。
作為該地區最大的家居用品零售連鎖店之一,該公司將繼續開拓市場並保持其地位。
(更多後續報道)道瓊斯通訊社
2020年7月29日東部時間06:05(格林尼治標準時間10:05)