HENDERSON CHINA<00246> - Results Announcement
Henderson China Holdings Limited announced on 23/9/2004:
(stock code: 00246 )
Year end date: 30/6/2004
Currency: HKD
Auditors' Report: Unqualified
(Restated)
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/7/2003 from 1/7/2002
to 30/6/2004 to 30/6/2003
Note ($ ) ($ )
Turnover 2 : 93,329,000 188,330,000
Profit/(Loss) from Operations 3 : 41,582,000 (290,001,000)
Finance cost : (19,017,000) (16,637,000)
Share of Profit/(Loss) of
Associates : (35,042,000) (60,662,000)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 15,752,000 (398,750,000)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 4a : 0.03 (0.8)
-Diluted (in dollars) 4b : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 15,752,000 (398,750,000)
Final Dividend : $0.03 $0.03
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 1/12/2004 to 6/12/2004 bdi.
Payable Date : 8/12/2004
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, "Share of loss of
associates" has been adjusted from HK$62,491,000 to HK$60,662,000,
"Profit/(Loss) after Taxation & MI" and "Profit/(Loss) after ETD Items"
for the last corresponding period have been adjusted from HK$395,183,000
to HK$398,750,000 and loss per share is unchanged.
2. The Group's turnover for the year ended 30th June, 2004 amounted to
approximately HK$93 million and the analysis by business segments is as
follows:
Group's Turnover
For the year ended 30th June
2004 2003
HK$'000 HK$'000
-----------------------
Property development 28,532 91,042
Property investment 43,796 41,291
Finance 6,406 40,931
Management and sales commissions
14,595 15,066
-----------------------
93,329 188,330
=======================
3. Profit/(Loss) from Operations
Profit/(Loss) from Operations is stated after interest income and other
income, but before finance cost, share of profits and losses of associates
and jointly controlled entities, taxation and minority interests, and is
arrived at after charging/(crediting):-
For the year ended 30th June
2004 2003
HK$'000 HK$'000
-----------------------
(Write back)/provision on property projects
(264,107) 262,500
Bad debts written off/provision
82,161 44,566
Loss/(gain) on disposal of interest in subsidiaries
343 (99,530)
Loss on disposal of interest in associates
- 78,294
4. Earnings/(loss) per share
(a) Basic earnings/(loss) per share
The calculation of earnings/(loss) per share is based on the profit
attributable to shareholders of HK$15,752,000 (2003 (restated): loss of
HK$398,750,000) and on the weighted average of 497,113,637 ordinary shares
(2003: 496,776,205 ordinary shares) in issue during the year.
(b) Diluted earnings/(loss) per share
Diluted earnings per share for the year is not shown as the existence of
outstanding options during the year ended 30th June, 2004 has an anti-
dilutive effect on the calculation of diluted earnings per share for the
year. There was no potential dilution of loss per share during the
corresponding period in 2003.
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