PME<00379> - Results Announcement
PME Group Limited announced on 23/9/2003:
(stock code: 00379 )
Year end date: 31/12/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 30/6/2003 to 30/6/2002
Note ('000 ) ('000 )
Turnover : 55,775 48,551
Profit/(Loss) from Operations : 11,275 11,709
Finance cost : (682) (1,304)
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 : 8,788 8,590
% Change over Last Period : +2.3 %
EPS/(LPS)-Basic (in dollars) : 0.011 0.0126
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 8,788 8,590
Interim Dividend : 0.3 cent N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 22/10/2003 to 24/10/2003bdi.
Payable Date : 5/11/2003
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. Group restructuring and basis of preparation of financial statements
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.
Pursuant to 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 issued shares in exchange for
the entire issued share capital of PME International (BVI) Company
Limited, the previous holding company of the Group, and thereby 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 Period of HK$8,788,000 (2002: HK$8,590,000) and 800,000,000 (2002:
680,000,000) ordinary shares in issue during the Period on the assumption
that the Group Reorganisation and capitalisation issue had been completed
on 1 January 2002.
No diluted earnings per share is presented as the Company does not have
any dilutive potential ordinary shares.
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