CR PEOPLESPHONE<00331> - Results Announcement
China Resources Peoples Telephone Company Limited announced on 24/8/2004:
(stock code: 00331 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/1/2004 from 1/1/2003
to 30/6/2004 to 30/6/2003
Note ('000 ) ('000 )
Turnover : 830,786 829,179
Profit/(Loss) from Operations : 162,380 227,990
Finance cost : (14,647) (34,772)
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 : 119,036 164,265
% Change over Last Period : -27.5 %
EPS/(LPS)-Basic (in dollars) : 0.2 0.38
-Diluted (in dollars) : 0.2 0.29
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 119,036 164,265
Interim Dividend : $0.13 N/A
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 20/9/2004 to 21/9/2004 bdi.
Payable Date : 13/10/2004
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. BASIS OF PREPARATION
The Company was incorporated with limited liability in Hong Kong under the
Companies Ordinance on 28 June 1994.
The shares of the Company were listed on the main board of the Hong Kong
Stock Exchange on 1 April 2004.
These interim financial statements have been prepared in accordance with
Hong Kong Statement of Standard Accounting Practice ('SSAP') 25, 'Interim
financial reporting', issued by the Hong Kong Society of Accountants, and
Appendix 16 of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.
2. TURNOVER
The principal activity of the Company is the provision of mobile
telecommunications and related services.
Turnover represents the value of goods sold and airtime and services
charged to subscribers, net of returns and discounts:
Six months ended 30 June
2004 2003
$000 $000
Sales of handsets and accessories 176,652 144,749
Airtime and service charges 654,134 684,430
---------------
830,786 829,179
===============
3. SEGMENT REPORTING
For the six months ended 30 June 2004, the Company's turnover and
operating profit were primarily attributable to its mobile communications
operations in the Special Administrative Region of Hong Kong.
Accordingly, no analysis by either business or geographical segment is
included in these interim financial statements.
4. BASIC AND DILUTED EARNINGS PER SHARE
a. Basic earnings per share
The calculation of basic earnings per share is based on the profit
attributable to shareholders of $119,036,000 (2003: $164,265,000) and the
weighted average number of ordinary shares outstanding during the period
of 588,320,510 (2003: 433,000,000).
Reconciliation:
Number of Shares
At 1 January 2004 433,000,000
Weighted average number of Ordinary Shares for new issued shares
74,725,000
Weighted average number of Ordinary Shares upon
conversion of Preference Shares 77,062,500
Weighted average number of Ordinary Shares issued
pursuant to the Capitalisation issue
3,533,010
----------
At 30 June 2004 588,320,510
============
b. Diluted earnings per share
The calculation of diluted earnings per share is based on the profit
attributable to ordinary shareholders of $119,036,000 (2003: $171,908,000)
and the weighted average number of ordinary shares of 588,320,510 shares
as at 30 June 2004 (2003: 587,125,000). For the six months ended 30 June
2004, there was no potentially dilutive share outstanding.
Six months ended 30 June
2004 2003
$000 $000
Profit attributable to shareholders
119,036 164,265
Adjusted for:
Accrued dividend and accrued redemption premium on convertible preference
shares
- 7,643
-------------
Profit attributable to ordinary shareholders
119,036 171,908
======= =======
Weighted average number of Ordinary
Shares 588,321 433,000
Deemed conversion of Preference Shares - 154,125
---------------
Weighted average number of Ordinary Shares in calculating diluted earnings
per share 588,321 587,125
======= =======
Diluted earnings per share (in HK$) 0.20 0.29
======= =======
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