SHAW BROTHERS<00080> - Results Announcement
Shaw Brothers (Hong Kong) Limited announced on 25/6/2003:
(stock code: 00080 )
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/4/2002 from 1/4/2001
to 31/3/2003 to 31/3/2002
Note ($ ) ($ )
Turnover : 62,442,000 72,480,000
Profit/(Loss) from Operations : (9,886,000) (7,711,000)
Finance cost : (1,000) (6,000)
Share of Profit/(Loss) of
Associates : 176,350,000 182,148,000
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 143,045,000 145,534,000
% Change over Last Period : -1.71 %
EPS/(LPS)-Basic (in dollars) : 0.36 0.37
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 143,045,000 145,534,000
Final Dividend : 20.0 cents 15.0 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 9/9/2003 to 19/9/2003 bdi.
Payable Date : 22/10/2003
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Explanation on change of corresponding figures reported in year
2002
In the current year, the Group and an associate company, Television
Broadcasts Limited ("TVB"), adopted the Statement of Standard Accounting
Practice Number 34 ("SSAP 34") "Employee benefits" issued by the Hong Kong
Society of Accountants which become effective for financial statements
relating to periods commencing on or after 1st January 2002. SSAP 34
specifies that employee entitlements to annual leave shall be recognised
when they accrue to employees. A provision shall be made for the
estimated liability for annual leave as a result of services rendered by
employees up to the balance sheet date. Employee entitlements to sick
leave and maternity or paternity leave are not recognised until the time
of leave.
In prior years, no provision was made by the Group and TVB in respect of
the employee annual leave entitlements. Following the adoption of SSAP
34, retrospective adjustments have been made by the Group and TVB to
provide for employee annual leave entitlements and hence the last year
figures of Loss from Operations, Share of Profit of Associates, Profit
after Taxation & MI, and Profit after ETD Items have been restated.
2. Earnings per share
The calculation of earnings per share is based on earnings for the year of
HK$143,045,000 (2002 as restated: HK$145,534,000) and on 398,390,400
ordinary shares in issue throughout the two years ended 31st March 2003.
3. Distributable reserves
Distributable reserves of the Company at 31st March 2003, calculated under
Section 79B of the Hong Kong Companies Ordinance, amounted to
HK$1,563,978,000 (2002 as restated: HK$1,555,531,000).
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