GOLD WO INT'L<0090> - Results Announcement (Summary)
Gold Wo International Holdings Limited announced on 26/7/2001:
(stock code: 90)
Year end date: 31/3/2001
Currency: HKD (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2000 from 1/4/1999
to 31/3/2001 to 31/3/2000
('000) ('000)
Turnover : 145,959 102,825
Profit/(Loss) from Operations : 39,146 26,366
Finance cost : (2,006) (1,899)
Share of Profit/(Loss) of Associates : - -
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Taxation & MI : 33,565 22,983
% Change over Last Period : +46%
EPS/(LPS)-Basic : 10.2 cents 7.0 cents
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 33,565 22,983
Final Dividend per Share : Nil N/A
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 23/8/2001 to 28/8/2001 bdi.
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remarks:
(1) First announcement since the listing of the Company's shares on the
Stock Exchange on 12 April 2001.
(2) The dividends for the years ended 31 March 2000 and 2001 were declared
and paid by a subsidiary of the Company to its then shareholders prior to
the Group Reorganisation, which was completed on 26 March 2001.
(3) Basis of presentation
Pursuant to a reorganisation scheme to rationalise the structure of
the Group in preparation for the listing of the Company's shares on the
Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 12 April
2001, the Company became the holding company of the companies now
comprising the Group on 26 March 2001 (the "Group Reorganisation").
This was accomplished by acquiring the entire issued share capital
of Richlink International Holdings Limited ("Richlink International"),
the then holding company of the subsidiaries in consideration of and in
exchange for the allotment and issue of 10,000,000 ordinary shares of
HK$0.01 each in the share capital of the Company, credited as fully
paid, to the former shareholders of Richlink International and the
existing 10,000,000 nil paid shares, credited as fully paid at par.
Further details of the Group Reorganisation and of the subsidiaries
acquired pursuant thereto are set out in the Company's prospectus dated 30
March 2001.
The Group Reorganisation involved companies under common control. The
consolidated financial statements have been prepared using the merger
basis of accounting as a result of the Group Reorganisation completed on
26 March 2001. Under this basis, the Company has been treated as the
holding company of its subsidiaries for the financial years, presented
rather than from the date of acquisition of the subsidiaries.
Accordingly, the consolidation results of the Group for the years
ended 31 March 2000 and 2001 include the results of the Company and its
subsidiaries with effect from 1 April 1999 or since their respective
dates of incorporation, where this is a shorter period. The comparative
consolidated balance sheet as at 31 March 2000 has been prepared on the
basis that the existing Group had been in place at that date.
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