- Home
- MediaOutReach
- Best Mart 360 Holdings Limited Announces FY2021/22 Annual Results; Core Net profit Surged Significantly by 121.0% YoY; Proposed a final dividend of HK$8.0 cents per share
Best Mart 360 Holdings Limited Announces FY2021/22 Annual Results; Core Net profit Surged Significantly by 121.0% YoY; Proposed a final dividend of HK$8.0 cents per share
Sabtu, 25 Juni 2022 | 09:32
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 REVIEW
Moderate expansion pace & expand footprint in residential areas
As 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 products
During 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 and sold a total of approximately 3,560 SKUs of products
(for the year ended 31 March 2021: 3,600 SKUs), such origins were mainly
from Japan and Korea; America and Australia; Vietnam and Thailand; and
China, Taiwan, and Hong Kong. The Group sourced the most popular and
trendy food products from each country, offering a diverse, multi-brand
and multi-category selection worldwide for every customer.
During the Financial Year under Review, the Group
continued to actively develop private label products that on the one
hand allowed the Group to capture the pricing opportunities and exercise
higher level of quality control on its products and on the other hand
further uplifted the Group’s brand awareness and strengthened customers’
loyalty. For the year ended 31 March 2022, sales derived from private
label products was approximately HK$323,556,000 (for the year ended 31
March 2021: approximately HK$140,564,000), representing a significant
increase of approximately 130.2% from that of last Financial Year and
accounted for approximately 16.3% of the revenue of the Group for the
year ended 31 March 2022 (for the year ended 31 March 2021:
approximately 8.6%). During the Financial Year under Review, the Group
has launched approximately 70 private label products, including personal
care and anti-epidemic products, nuts and dried fruits, cereals,
Chinese foodstuffs, etc.
Strengthened marketing strategy & broadened the customer base
Given that the retail business of the Group is a
consumer-driven business, the Group placed substantial efforts in
developing and reinforcing its customer base. Accordingly, the Group
established a membership scheme since April 2015 in order to promote
consumer loyalty, stimulate sales and expand customer base. In order to
further deepen customer stickiness and expand customers’ coverage, the
Group used big data analysis and reformulated its marketing strategy to
launch a new three-tier membership scheme and a second-generation mobile
app in mid-June 2020. The new membership scheme helps to elevate brand
positioning and market recognition, and the membership rewards have been
fully optimised and enhanced, with more member benefits such as
multiple items purchase stamp reward, special offers for selected
products and access to latest market information. Through diversified
marketing strategies, the Group aims to internally strengthen the
membership core from within and attract new customers through external
expansion, so as to effectively and purposefully foster the ties between
members and the Group, thereby driving recurring business from members
and promoting sustainable growth of the Group’s business.
During the Financial Year under Review, the number of
the Group’s members increased from approximately 1,673,000 as at 31
March 2021 to approximately 1,861,000 as at 31 March 2022, representing
an increase of approximately 11.3%. Since the launch of the mobile app
in March 2019, over 740,000 people have registered as members through
the Group’s mobile app as of 31 March 2022.
OUTLOOK
The Group will continue to strengthen its core
competitiveness in the Hong Kong market by optimising its product mix to
cover more basic foodstuffs and necessities and enhancing the
development of its private label products, in order to cater to the
needs of the local market. The Group will also actively seek for more
quality supply channels and control costs and product quality, in order
to provide products with better value to customers. The Group will
continue to adhere to the objective of global procurement, and remain
truthful to the business philosophy of offering the “Best Quality” and
“Best Price”. The management will continue to monitor the development in
external environment and review the geographical distribution of the
Group’s stores. The Group will actively identify suitable locations in
Hong Kong to expand the sales network of “Best Mart 360º” and
“FoodVille” branded store. Existing stores will also undergo internal
enhancement to optimise product display space and provide a more
comfortable shopping environment for customers.
The Group plans to strengthen its marketing strategy.
A brand-new Best Mart 360 website was launched in May 2022. In addition
to providing more information on product promotions and food and
lifestyle tips in the “Blog” section, the website also features a new
page on “Corporate Responsibility” to share the Group’s experience of
participating in charitable activities, allowing customers to better
understand Best Mart 360’s faith in believing that “Nothing is
impossible. Believe we can do it”, bringing the Group closer to the
public, and reinforcing the positive image of the brand. Furthermore,
the Group will also try using different channels to strengthen its
promotion activities in order to introduce the brand or products to
customers with an aim to attract more customers of different segments.
On the membership front, the Group has established a
membership scheme since April 2015, which offers exclusive member
benefits and privileges on a regular basis to enhance customer loyalty.
To further enhance the brand image, the Group will optimise the
membership scheme to increase the number of members and broaden the
customer base, such optimisation includes reviewing the membership
scheme in a timely manner, streamlining the membership registration and
enrolment process, and adding more membership points redemption
programs, etc.
The Group executed its expansion plan in the Greater
Bay Area by setting up its first presence in the Mainland China market
in Shenzhen. The Group will actively explore successful and profitable
models and apply them to other cities within the Greater Bay Area to
accelerate its development into the Greater Bay Area and extend its
sales network to the whole nation. During the year, the Group has
successfully expanded its business model to the Macau market, and has
achieved satisfactory operating results. In the future, the Group will
continue to implement its expansion plan in Macau, and continue to
identify suitable locations in the region with reference to the
geographical location, size and layout of the stores as in line with its
expansion strategy, laying the foundation for the Group’s vision of
moving beyond the Hong Kong market.
Mr. Hui Chi Kwan, Chief Executive Officer of the Group, said, “Despite the business environment of the retail industry remains uncertain with the recurrence of the novel coronavirus
outbreak, the Group managed to maintain sustainable growth in both
revenue and profit. During the year, we have successfully expanded the
business model to Mainland China and Macau market, laying the foundation
of our expansion plan in the Greater Bay Area. Looking ahead, we will
closely monitor market changes and take quick and appropriate measures
to enhance the business operational effectiveness of the Group. We will
continue to strengthen the Group’s core competitiveness by optimising
product mix and enhancing the development of private label products in
order to cater to the needs of the local market, creating better
results for the Group and bring satisfactory returns to the
shareholders.”
BERITA LAINNYA
BERIKAN KOMENTAR