CHINA RES CMENT<00712> - Results Announcement
China Resources Cement Holdings Limited announced on 02/09/2005:
(stock code: 00712 )
Year end date: 31/12/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 30/06/2005 to 30/06/2004
Note ('000 ) ('000 )
Turnover : 765,633 671,270
Profit/(Loss) from Operations : 38,509 71,481
Finance cost : (24,776) (9,945)
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 : 1,536 42,055
% Change over Last Period : -96 %
EPS/(LPS)-Basic (in dollars) : 0.004 0.116
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 1,536 42,055
Interim Dividend : Nil Nil
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) RESULTS ANNOUNCEMENT FOR THE LAST CORRESPONDING PERIOD
The Company has applied Hong Kong Financial Reporting Standard (HKFRS) 2
"Share-based Payment" issued by Hong Kong Institute of Certified Public
Accountants, which is effective for accounting periods beginning on or
after 1 January 2005, retrospectively to all grants of share options that
remained unvested as of 1 January 2005. As a result, the relevant
figures of the Result Announcement Form for the last corresponding period
has been adjusted as follows:
(a) Profit from Operations, Profit after Taxation & Minority Interests
and Profit after Extraordinary Items are each reduced by $3,131,000;
(b) Basic Earnings per Share is restated at HK$0.116 from the
previously reported amount of HK$0.125; and
(c) Diluted Earnings per Share for the six months ended 30 June 2004
is restated as "Not Applicable" because its computation does not assume
the exercise of the Company's outstanding share options as the adjusted
exercise price, which include the fair value of services to be provided
to the Company in the future under the share options, of those options
is higher than the average market price of shares during that period.
(2) PROFIT FROM OPERATIONS
Unaudited Unaudited
Last
Current Period Corresponding Period
from 1/1/2005 from 1/1/2004
to 30/6/2005 to 30/6/2004
HK$'000 HK$'000
Profit from operations is arrived at after charging (crediting):
Depreciation of fixed assets 59,225 45,056
Expenses relating to share
options granted 2,592 3,131
Gain on change in fair value
of investment property (27,212) -
============================
(3) EARNINGS PER SHARE
The calculation of basic earnings per share is based on the profit
attributable to shareholders of the Company for the period of
HK$1,536,000 (1/1/2004 to 30/6/2004:HK$42,055,000) and on the weighted
average number of 376,169,174 shares (1/1/2004 to 30/6/2004:362,807,461
shares) in issue during the period.
No diluted earnings per share has been presented because the conversion
of the Group's outstanding convertible bonds would result in an increase
in profit attributable to shareholders of the Company and the adjusted
exercise price of the Company's outstanding share options, which include
the fair value of services to be provided to the Group in the future under
the share options, is higher than the average market price of shares
during the period.
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