HENDERSON CHINA<00246> - Results Announcement (Summary)
Henderson China Holdings Limited announced on 17/03/2004:
(stock code: 00246 )
Year end date: 30/6/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Restated)
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/07/2003 from 01/07/2002
to 31/12/2003 to 31/12/2002
Note ($ ) ($ )
Turnover : 52,320,000 121,853,000
Profit/(Loss) from Operations : (18,273,000) (104,197,000)
Finance cost : (6,705,000) (10,831,000)
Share of Profit/(Loss) of
Associates : (6,932,000) 13,715,000
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (31,724,000) (104,494,000)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.06) (0.21)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (31,724,000) (104,494,000)
Interim Dividend : $0.03 $0.03
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 19/04/2004 to 21/04/2004bdi.
Payable Date : 22/04/2004
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. As a result of the adoption of the revised SSAP 12 "Income Taxes" which
is effective as from 1st July, 2003, deferred taxation is provided in
full, using the liability method, on the temporary differences arising
between the tax bases of assets / liabilities and their carrying amounts
in the accounts subject to limited exceptions.
The adoption of the revised SSAP 12 represents a change in accounting
policy, which requires retrospective adjustment to the comparative figures
of the last corresponding period. Accordingly, "Loss after Taxation & MI"
and "Loss after ETD Items" for the last corresponding period have been
adjusted from HK$98,074,000 to HK$104,494,000 and loss per share from
HK$0.20 to HK$0.21.
2. The Group's turnover for the six months ended 31st December, 2003
amounted to approximately HK$52 million and the analysis by business
segments is as follows:
Group's Turnover
For the six months ended 31st December
2003 2002
HK$'000 HK$'000
Property development 19,378 53,706
Property investment 21,832 28,295
Finance 4,091 29,563
Management and sales
commissions 7,019 10,289
------- ---------
52,320 121,853
======= =========
3. Profit/(Loss) from Operations
Loss from Operations is stated after interest income and other income, but
before finance cost, share of profits and losses of associates and jointly
controlled entities, taxation and minority interests, and after charging
:-
For the six months ended 31st December
2003 2002
HK$'000 HK$'000
Provisions on property
projects - 98,000
Bad debts written off 3 37,836
------ ---------
3 135,836
====== =========
4. Loss per share
(a) Basic loss per share
The calculation of basic loss per share is based on the loss attributable
to shareholders of HK$31,724,000 (2002 restated: HK$104,494,000) and on
496,776,205 ordinary shares (2002: 496,776,205 ordinary shares) in issue
during the period.
(b) Diluted loss per share
Diluted loss per share for the period is not shown as the existence of
outstanding options during the period ended 31st December, 2003 has an
anti-dilutive effect on the calculation of diluted loss per share for the
period. There was no potential dilution of loss per share during the
corresponding period in 2002.
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