TAI SANG LAND<00089> - Results Announcement
Tai Sang Land Development Limited announced on 04/04/2005:
(stock code: 00089 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/12/2004 to 31/12/2003
Note ('Million ) ('Million )
Turnover 2 : 203.5 212.8
Profit/(Loss) from Operations 2 : 75.4 80.8
Finance cost : (15.4) (19.4)
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 : 52.8 42.5
% Change over Last Period : +24.2 %
EPS/(LPS)-Basic (in dollars) 3 : 0.184 0.148
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 52.8 42.5
Final Dividend : 6 cents 5 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 13/05/2005 to 20/05/2005 bdi.
Payable Date : 27/05/2005
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. Discontinued operation of Montgomery Golf Corporation
On 21st June 2004, the Board of Directors of the Company passed a
resolution approving the discontinuance of the business of Montgomery Golf
Corporation ("MGC"), a wholly-owned subsidiary of the Company, which
incorporated in the United States of America. MGC's principal activity is
trading of golf related products. During the year, MGC earned revenue of
HK$5,420,000, incurred expenses of HK$16,883,000 and incurred an operating
loss of HK$11,463,000.
2. Turnover & Profit/(Loss) from Operations
An analysis of the turnover and profit/(loss) from continuing operations
and discontinued operations are as follows:-
Turnover Segment results
2004 2003 2004 2003
HK$'000 HK$'000 HK$'000 HK$'000
Hong Kong
- continuing operations 148,853 149,089 96,516 95,816
------- ------- ------ -------
North America
- continuing operations 49,235 50,801 24,847 26,244
- discontinued operation 5,420 12,964 (11,463)(14,391)
------- ------- ------- --------
54,655 63,765 13,384 11,853
======= ======= ======= ========
203,508 212,854 109,900 107,669
======= =======
Unallocated costs (34,435)(26,879)
------- --------
Operating profit 75,465 80,790
======= ========
3. Earnings per share
The calculation of earnings per share is based on profit attributable to
shareholders of HK$52,849,068 (2003: HK$42,480,319) and on 287,669,676
(2003: 287,669,676) ordinary shares in issue during the year.
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