PANVA GAS HOLD<08132> - Results Announcement (Final, 2003, Summary)
Panva Gas Holdings Limited announced on 15/03/2004:
(stock code: 08132)
Year end date :31/12/2003
Currency :HKD
Auditors' report :Unqualified
Review of Quarterly Report by :N/A
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(* Audited) (* Audited)
Current Last
Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 31/12/2003 to 31/12/2002
$'000 $'000
Turnover : 1,457,632 1,150,322
Profit/(Loss) from Operations : 284,632 181,519
Finance cost : (10,257) (3,216)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 209,074 132,538
% Change Over the Last Period : +57.75%
EPS / (LPS)
Basic (in dollar) : HKD 0.3397 HKD 0.2197
Diluted (in dollar) : HKD 0.3036 HKD 0.1744
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 209,074 132,538
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
For and on behalf of
Panva Gas Holdings Limited
Signature :
Name : CHAN Wai Chuen, Ricky
Title : Company Secretary
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. Basis of Preparation
The Company was incorporated in Cayman Islands on 16 November
2000 as an exempted company with limited liability under the
Companies Law (2000 Revision) Chapter 22 of the Cayman Islands.
The shares have been listed on the GEM operated by the Stock
Exchange.
The Company is an investment holding company. Its subsidiaries are
principally engaged in the sale and distribution of Liquefied Petroleum
Gas ("LP Gas") and natural gas (together "Gas Fuel") in the People's
Republic of China including the sale of LP Gas in bulk and in cylinders,
the provision of piped LP Gas and natural gas, construction of gas
pipelines , the operation of city gas pipeline network, the operation
of Gas Fuel automobile refilling stations and the sale of LP Gas and
natural gas household appliances.
2. Earnings per share
The calculation of the earning per share for the year ended
31 December 2003 and 31 December 2002 was based on the net
profit of HK$209,074,000 and HK$132,538,000 respectively
and on the weighted average number of 615,401,000
ordinary shares and 603,272,000 ordinary shares in issue
during the respective periods.
Diluted earnings per share for the period ended 31 December 2003
was calculated based on the net profits of HK$214,482,000
adjusted for the interest on convertible note and on the
weighted average number of 706,519,000 shares, adjusted for
the outstanding share options of 25,884,000 shares and
convertible bonds of 65,234,000 shares during the period.
Diluted earnings per share for the period ended 31 December 2002
was calculated based on the net profits of HK$135,538,000
adjusted for the interest on convertible note and on the
weighted average number of 776,961,000 shares, adjusted for
the outstanding share options of 4,197,000 shares and
convertible note of 169,491,525 shares and bonus issued during
the period.
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