TIAN AN<00028> - Results Announcement (Summary)
Tian An China Investments Company Limited announced on 26/3/2002:
(stock code: Ord: 28 & War: 390)
Year end date: 31/12/2001
Currency: HK$
Auditors' Report: Neither
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/1/2001 from 1/1/2000
to 31/12/2001 to 31/12/2000
('000) ('000)
Turnover : 299,273 966,733
Profit/(Loss) from Operations : 65,396 133,702
Finance cost : (39,161) (30,260)
Share of Profit/(Loss) of Associates : 2,041 904
Share of Profit/(Loss) of
Jointly Controlled Entities : 116,809 47,472
Profit/(Loss) after Tax & MI : 102,782 67,919
% Change over Last Period : +51%
EPS/(LPS)-Basic : 1.2 cents 1.4 cents
-Diluted : 1.2 cents 1.4 cents
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 102,782 67,919
Final Dividend per Share : NIL NIL
(Specify if with other options) : - -
B/C Dates for Final Dividend : -
Payable Date : -
B/C Dates for (-) General Meeting : -
Other Distribution for Current Period : -
B/C Dates for Other Distribution : -
Remarks:
1. Turnover represents the aggregate of proceeds on the sale of
development properties, rental income, interest income on instalments
receivable, income from property management, commission from agency
services and sales of construction material.
2. Profit from operations for both year includes the share of results of
jointly controlled entities because the jointly controlled entities are
mainly engaged in property development and investment.
3. Earnings per share
The calculation of basic and diluted earnings per share is based on the
following data:
2001 2000
HK$'000 HK$'000
Earnings
Earnings for the purposes of basic
earnings per share 102,782 67,919
Effect of dilutive potential ordinary shares:
Adjustment to the share of result of a
subsidiary based on dilution of its earnings
per share (160) -
---------- ----------
Earnings for the purpose of dilutive earnings
per share 102,622 67,919
======== =======
2001 2000
Number of Shares
Weighted average number of
ordinary shares for the
purposes of basic earnings per share 8,490,678,716 4,899,739,368
Effect of dilutive potential
ordinary shares:
Warrants (expiring on 25th February 2000) - 26,627,724
-------------- -------------
Weighted average number of
ordinary shares for the
purposes of diluted earnings
per share 8,490,678,716 4,926,367,092
============= =============
There was no bonus element in the rights issue approved on 13th October,
2000. Accordingly, no adjustment is made on the number of ordinary shares
issued in calculating the basic earnings per share for the year.
The computation of diluted earnings per share for the year does not assume
the conversion of the Company's outstanding convertible loan notes since
their exercise would result in an increase in earnings per share.
The computation of diluted earnings per share for the year ended 31st
December, 2001 does not assume the exercise of the company's options and
warrants as the exercise prices are higher than the average market
price for shares.
The computation of diluted earnings per share for the year ended 31st
December 2000 does not assume the exercise of the company's outstanding
share options and other warrants as the exercise prices are higher than
the average market price per share.
4. Comparative figures
Certain comparative figures have been realigned to conform with the
current year's presentation.
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