PME<00379> - Results Announcement
PME Group Limited announced on 15/04/2003:
(stock code: 00379 )
Year end date: 31/12/2002
Auditors' Report: Unqualified
(Audited ) Last
from 01/01/2002 from 01/01/2001
to 31/12/2002 to 31/12/2001
Note ('000 ) ('000 )
Turnover : 121,310 119,064
Profit/(Loss) from Operations : 31,593 32,921
Finance cost : (2,172) (2,258)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 24,388 26,006
% Change over Last Period : -6.2 %
EPS/(LPS)-Basic (in dollars) : 0.035 0.0382
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 24,388 26,006
Final Dividend : 1.125 cents N/A
(Specify if with other : N/A N/A
B/C Dates for
Final Dividend : 16/05/2003 to 23/05/2003bdi.
Payable Date : 10/06/2003
B/C Dates for Annual
General Meeting : 16/05/2003 to 23/05/2003bdi.
Other Distribution for : Special dividend of 0.375 cent per
Current Period share payable on 10 June 2003
B/C Dates for Other
Distribution : 16/05/2003 to 23/05/2003bdi.
1. GROUP RESTRUCTURING AND BASIS OF PRESENTATION OF FINANCIAL
The Company was incorporated as an exempted company with limited
liability in the Cayman Islands on 27 February 2002 under the Companies
Law (Revised) Chapter 22 of the Cayman Islands.
During the year ended 31 December 2002, the Company undertook a
group reorganisation (the "Group Reorganisation") to rationalise the
structure of the Company and its subsidiaries (hereinafter collectively
referred to as the "Group") in preparation for the listing of the
Company's shares on the Main Board of The Stock Exchange of Hong Kong
Limited (the "Stock Exchange"). The Company became the holding company of
the Group on 23 October 2002.
The shares of the Company have been listed on the Stock Exchange with
effect from 13 November 2002.
The Group resulting from the Group Reorganisation is regarded as a
continuing entity. Accordingly, the consolidated financial statements
have been prepared using the principles of merger accounting in accordance
with Statement of Standard Accounting Practice 27 "Accounting for Group
Reconstructions" issued by the Hong Kong Society of Accountants.
2. EARNINGS PER SHARE
The calculation of the basic earnings per share is based on the
net profit for the year of HK$24,388,000 (2001: HK$26,006,000) and on the
weighted average number of 696,438,356 (2001: 680,000,000) ordinary shares
in issue during the year on the assumption that the Group Reorganisation
and capitalisation issue had been completed on 1 January 2001.
No diluted earnings per share is presented as the Company does not have
any dilutive potential ordinary shares.