FUTURE BRIGHT2023年中期报告

(Incorporated in Bermuda with limited liability)(Stock code703) 2 0 2 3INTERIM REPORT CONTENTS 2Financial Highlights3Chairman’s Statement8Management Discussion and Analysis38Condensed Consolidated Statement ofComprehensive Income39Condensed Consolidated Statement ofFinancial Position41Condensed Consolidated Statement ofChanges in Equity 42Condensed Consolidated Statement ofCash Flows44Notes to the Condensed ConsolidatedInterim Financial Statements73List of Restaurants/Food CourtCounters/Stores79List of Food Souvenir Shops/Kiosks81Corporate Information83Definitions Chairman’s Statement The Directors are pleased to present to our Shareholders this interimreport of the Group for the Period. 71.9%24,300,000104,700,000 In the Period, the Group has recorded a substantial increase in turnoverof some 71.9% from its businesses in Macau, Hong Kong and MainlandChina due to significant increase in visitor arrivals to Macau and HongKong. Macau has relaxed its travel restrictions effective from earlyJanuary 2023. The reopening measures are met with a significantincrease in visitor arrivals and improvement in hotel occupancy ratein Macau. The Group recorded a profit attributable to owners of theCompany of some HK$24.3 million in the Period, as compared to a lossattributable to owners of the Company of HK$104.7 million of the sameperiod of last year. The Group’s profit attributable to the owners of the Company of someHK$24.3 million in the Period has been mainly attributable to (i) a profitattributable to owners of the Group’s food and catering business of someHK$18.2 million, (ii) a profit attributable to owners of the Group’s foodsouvenir business of some HK$4.1 million and (iii) a profit attributable toowners of the Group’s property investment business of some HK$4.0million. 24,300,000(i)18,200,000(ii)4,100,000(iii)4,000,000 The Group has also recorded for the Period: (i)an increase of some 71.9% in turnover as compared to that of thesame period of 2022; 71.9% (ii)42.2%9.5%16.3%24.3% (ii)an increase of some 42.2% in cost of sales (food costs), decreaseof some 9.5% in direct operating expenses, of some 16.3% inadministrative expenses, and increase of some 24.3% in financecosts, as compared to that of the same period of 2022; (iii)27.8% in gross operating profit ratio as compared to that grossoperating loss ratio of 19.2% for the same period of 2022; 27.8%19.2% (iv)24,300,000104,700,000 (iv)a profit attributable to owners of the Company of some HK$24.3million as compared to a loss attributable to owners of theCompany of some HK$104.7 million for the same period of 2022; (v)a gross margin ratio of some 73.9% with an EBITDA at someHK$61.6 million as against a gross margin ratio of some 68.5%with a LBITDA at some HK$60.9 million for the same period of2022; (v)73.9%EBITDA61,600,00068.5%LBITDA60,900,000 (vi)110.8%579.2% (vi)an increase of some 110.8% in the same store performance of itsrestaurants and industrial catering business, and of some 579.2%in the same store performance of its food souvenir business, ascompared to that of the same period of 2022; and (vii)the Net Ordinary Operating Profit of some HK$24.3 million, asagainst a Net Ordinary Operating Loss of some HK$95.9 millionfor the same period of 2022. (vii)24,300,00095,900,000 As at 30 June 2023, the Group has not recorded any fair value gain/lossin respect of the Key Investment Property which has been valued by anindependent professional valuer at some HK$556.0 million (31 December2022: HK$556.0 million). 556,000,000556,000,000 For the Period in respect of the exchange differences on translatingforeign operations which relate mainly to the Group’s subsidiarycompanies in Mainland China, the Group has recorded an overall othercomprehensive income of some HK$0.5 million, as compared to anoverall other comprehensive income of some HK$5.3 million for thesame period of 2022. Details of financial analysis and breakdown of theGroup’s performance in the Period are set out in the section headed“Management Discussion and Analysis” on pages 8 to 37 of this interimreport. 500,0005,300,000837 In view of the huge accumulated losses incurred by the Group for thepast three years, the Directors do not propose to declare and pay outany interim dividend in respect of the Period. Chairman’s Statement The COVID-19 pandemic for the past three years has caused significanttravel restrictions and lockdown measures around the world. Manypeople have been unable to travel for an extended period, the easingof travel restrictions have led to a pent-up demand to travel. Macau is apopular tourist destination with its diverse range of attractions, includinglarge-scale world-class integrated resorts, iconic landmarks offering anunique blend of entertainment, gaming, cultural attractions and culinaryexperience to many tourists. The lifting of travel restrictions sinceearly January 2023 has led to a surge in demand for Macau tourism.In addition, Macau is increasingly bec