VICTORY GROUP<1139> - Results Announcement
Victory Group Limited announced on 28/5/1999:
(stock code: 1139)
The accounts which contain the following results are modified by the
Company's auditor. For more details, please refer to the press
announcement issued by the Company on 31/5/1999.
Year end date: 31/12/1998
Currency: HK$
Last
Current Corresponding
Period Period
from 1/1/1998 from 1/1/1997
to 31/12/1998 to 31/12/1997
Turnover/Interest Income : 782,361,000 1,091,524,000
Profit-Continuing Operations
- Operating Profit/(Loss) : 22,327,000 73,254,000
- Exceptional Items : (65,696,000) (3,454,000)
- Discontinued Operations : N/A N/A
Total Operating Profit/(Loss) : (43,369,000) 69,800,000
Share of Profit/(Loss) of
Associated Companies : N/A N/A
Profit/(Loss) after Tax & MI : (46,538,000) 56,888,000
% Change over Last Period : N/A
EPS/(LPS)-Basic : (21.8 cents) 30.9 cents
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (46,538,000) 56,888,000
Final Dividend per Share : NIL NIL
(Specify if with other options) : - -
B/C Dates for Final Dividend : NIL
Payable Date : -
B/C Dates for Annual General Meeting : 22/6/1999 to 29/6/1999 bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : NIL
Remarks:
(1) Exceptional item
1998 1997
HK$'000 HK$'000
Foreign exchange losses, net 27,606 -
Provision for bad and
doubtful debts 33,940 -
Deficit arising from revaluation
of investment properties 4,150 3,454
--------- ---------
65,696 3,454
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The net foreign exchange losses mianly arose from the fluctuation of
Japenese yen between the dates of purchases of motor vehicles and the
settlement dates, or the balance sheet date on the translation of monetary
items at applicable rates as at that date.
(2) Earnings/(Loss) Per Share
The calculation of basic loss per share for the year ended 31
Decemebr 1998 is based on the net loss attributable to shareholders
for the year of HK$46,538,000 and the weighted average of 213,490,411
shares in issue during the year.
The basic earnings per share for the year ended 31 Decemebr 1997 is
calculated based on the net profit attirbutable to shareholders of
HK$56,888,000 and an aggregate of 184,000,000 shares deemed
to have been in issue throughout the year, being the pro forma
number of shares issued by the Company as at 31 Decemebr 1997.
Diluted earnings/(loss) per share for the years ended 31 December 1998
and 1997 have not been calculated as no diluting events existed
during these years.
For more details, please refer to the press announcement today.
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