CHINA AEROSPACE<0031> - Results Announcement
China Aerospace International Holdings Limited announced on 29/5/1999:
(stock codes: Ord: 31 & War: 319)
Year end date: 31/12/1998
Currency: Hong Kong Dollars
Last
Current Corresponding
Period Period
from 1/1/1998 from 1/1/1997
to 31/12/1998 to 31/12/1997
Turnover : 2,226,796,000 2,693,828,000
Profit-Continuing Operations
- Operating Profit/(Loss) : 195,509,000 270,530,000
- Finance Costs : (274,701,000) (161,354,000)
- Exceptional Items : (264,285,000) 102,741,000
- Discontinued Operations : N/A N/A
Total Operating Profit/(Loss) : (343,477,000) 211,917,000
Share of Profit/(Loss) of
Associated Companies : (9,441,000) 9,198,000
Profit/(Loss) after Tax & MI : (342,242,000) 202,093,000
% Change over Last Period : N/A
EPS/(LPS)-Basic : (21 cents) 15 cents
-Diluted : (21 cents) 14 cents
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (342,242,000) 202,093,000
Final Dividend per Share : NIL NIL
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 25/6/1999 to 30/6/1999 bdi.
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remarks:
(1) Exceptional Items
1998 1997
HK$'000 HK$'000
Profit on deemed disposal of
subsidiary upon its initial
public offer - 87,900
Interest income on subscription
monies received for subsidiary's
initial public offer - 7,657
(Provision) for doubtful debts
written back (121,171) 3,059
(Provision) for obsolete
inventories written back (20,453) 4,125
Amounts written of upon
cessation of an associated
company (80,392) -
--------- ---------
(264,285) 102,741
========= =========
(2) (Loss) Earnings per Share
The calculation of the basic and diluted (loss) earnings per share
is based on the following data:
1998 1997
HK$'000 HK$'000
(Loss) Profit
(Loss) Profit for the year and
(loss) profit for calculation of
basic and diluted (loss)
earnings per share (342,242) 202,093
========= =========
Number of Shares
Weighted average number of
ordinary shares for the calculation
of basic (loss) earnings per share 1,616,215,402 1,331,959,925
Add: Adjustment for effects of
dilutive potential ordinary
shares
Warrants 12,918,686 121,413,906
-------------- --------------
Weighted average number of ordinary
shares for the calculation of diluted
(loss) earnings per share 1,629,134,088 1,453,373,831
============= =============
The adoption of the revised Statement of Standard Accounting
Practice No.5 "Earnings per share" issued by the Hong Kong
Society of Accountants has results in some modifications
to the basis of calculation of diluted earnings per share
and to the disclosures presented for diluted earnings per
share. Amounts presented for the prior year have been restated to
reflect the requirements of the revised standard.
(3) Comparative figures
Certain comparative figures have been reclassified to conform with the
current year's presentation.
For more details, please refer to the press announcement today.
|
