MIRABELL INT'L<01179> - Results Announcement
Mirabell International Holdings Limited announced on 17/06/2004:
(stock code: 01179 )
Year end date: 29/02/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/03/2003 from 01/03/2002
to 29/02/2004 to 28/02/2003
Note ('000 ) ('000 )
Turnover : 645,617 625,616
Profit/(Loss) from Operations : 52,316 41,070
Finance cost : (1,200) (1,466)
Share of Profit/(Loss) of
Associates : 20,086 16,304
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 66,090 48,999
% Change over Last Period : +34.88 %
EPS/(LPS)-Basic (in dollars) : 0.26 0.193
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 66,090 48,999
Final Dividend : 6.3cents 4.3cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 30/07/2004 to 06/08/2004bdi.
Payable Date : 13/08/2004
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) The Group has changed its accounting policy following its adoption of the Hong Kong
Statement of Standard Accounting Practice ("SSAP") 12 "Income Taxes" issued
by the Hong Kong Society of Accountants which is effective for accounting periods
commencing on or after 1 January 2003.
The change in the accounting policy has been applied retrospectively so that the
comparative figures presented have been restated to conform with the changed policy.
The opening retained earnings as at 1 March 2002 and 2003 have increased by
HK$2,051,000 and HK$2,365,000, respectively, the opening investment properties
revaluation reserve as at 1 March 2002 and 2003 have decreased by HK$1,307,000 and
HK$1,252,000, respectively, and the opening other properties revaluation reserve as at
1
March 2002 and 2003 have decreased by HK$430,000 and HK$412,000, respectively,
which represent the underprovided net deferred tax assets/liabilities. This change has
resulted in an increase in deferred tax assets and deferred tax liabilities as at 28
February
2003 by HK$2,366,000 and HK$1,665,000, respectively. The profit and amount charged
to equity for the year ended 28 February 2003 have increased by HK$314,000,
respectively.
2) The calculation of basic earnings per share is based on the Group's profit attributable
to shareholders of HK$66,090,000 (2003 (as restated): HK$48,999,000) and the weighted
average of 254,530,000 (2003: 254,530,000) ordinary shares in issue during the
year .
There is no diluted earnings per share since the Company has no dilutive potential
ordinary share.
3) On 1 March 2003, Hornet Agents Limited, a wholly-owned subsidiary of the Company,
entered into a disposal agreement to dispose of its "teenmix" trademark, which is
developed by the Group, to an independent third party at a consideration of
HK$8,241,000. The disposal completed on 3 March 2003.
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