HARBIN BREWERY<00249> - Results Announcement
Harbin Brewery Group Limited announced on 21/09/2004:
(stock code: 00249 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 30/06/2004 to 30/06/2003
Note ('000 ) ('000 )
Turnover : 780,030 658,186
Profit/(Loss) from Operations : 62,674 93,068
Finance cost : (25,172) (26,841)
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 : 14,333 45,763
% Change over Last Period : -68.68 %
EPS/(LPS)-Basic (in dollars) : 0.0143 0.048
-Diluted (in dollars) : 0.0138 0.0467
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 14,333 45,763
Interim Dividend : NIL 1.40 Cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : N/A
Payable Date : N/A
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 PRESENTATION AND ACCOUNTING POLICIES
These unaudited interim condensed consolidated financial statements have
been prepared in accordance with SSAP 25 "Interim Financial Reporting" and
Appendix 16 of the Rules Governing the Listing of Securities on the Stock
Exchange (the "Listing Rules").
The accounting policies and basis of presentation used in the preparation
of these interim financial statements are the same as those used in the
Group's audited financial statements for the year ended 31 December 2003.
2. ANALYSIS OF TURNOVER AND PROFIT FROM OPERATIONS
The turnover and profit from operations of HK$780,030,000 and
HK$62,674,000 for the six months ended 30 June 2004 respectively and
HK$658,186,000 and HK$93,068,000 for the corresponding period last year
respectively were all generated from continuing operations.
Profit from operations for the six months ended 30 June 2004 amounted to
HK$62,674,000, representing a decrease of 32.7%. This was attributable to
the one-off administrative expenses incurred in the Company as a result of
the general offer came about during the period. Excluding the expenses
incurred due to the general offer, profit from operations, on the
contrary, increased by 6.3% as compared with the corresponding period in
2003.
3. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the unaudited net
profit attributable to shareholders for the period of HK$14,333,000 (2003:
HK$45,763,000) and the weighted average of 1,003,820,402 (2003:
953,955,602) ordinary shares in issue during the period.
The calculation of diluted earnings per share for the six months ended 30
June 2004 is based on the unaudited net profit attributable to
shareholders for the period of HK$14,333,000. The weighted average number
of ordinary shares used in the calculation is the 1,003,820,402 ordinary
shares in issue during the period, as used in the basic earnings per share
calculation and the weighted average of 31,257,311 ordinary shares assumed
to have been issued at no consideration on the deemed exercise of all
share options during the period.
The calculation of diluted earnings per share for the six months ended 30
June 2003 is based on the unaudited net profit attributable to
shareholders for the period of HK$45,763,000. The weighted average number
of ordinary shares used in the calculation is the 953,955,602 ordinary
shares in issue during the period, as used in the basic earnings per share
calculation and the weighted average of 25,785,971 ordinary shares assumed
to have been issued at no consideration on the deemed exercise of all
share options during the period.
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