MELBOURNE ENT<00158> - Results Announcement
Melbourne Enterprises Limited announced on 14/06/2004:
(stock code: 00158 )
Year end date: 30/9/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Auditors
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/10/2003 from 1/10/2002
to 31/3/2004 to 31/3/2003
Note ('000 ) ('000 )
Turnover : 35,698 36,456
Profit/(Loss) from Operations : 11,583 23,612
Finance cost : N/A N/A
Share of Profit/(Loss) of
Associates : (4) (5)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 7,804 19,529
% Change over Last Period : -60 %
EPS/(LPS)-Basic (in dollars) : 0.31 0.78
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 7,804 19,529
Interim Dividend : $0.50 $0.70
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 12/7/2004 to 14/7/2004 bdi.
Payable Date : 19/7/2004
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. CHANGES IN ACCOUNTING POLICY
In order to comply with Statement of Standard Accounting Practice
12 "Income taxes" issued by the Hong Kong Society of Accountants, the
Group adopted a new accounting policy for deferred tax with effect from 1
October 2003. A balance sheet method is used to recognise deferred tax in
respect of temporary differences between the carrying amounts of assets
and liabilities in the financial statements and the corresponding tax
bases used in the computation of taxable profit. The effect of adopting
the new accounting policy has been applied retrospectively. The profit
for the six months ended 31 March 2003 has been reduced by HK$73,000.
2. SEGMENT INFORMATION
Turnover represents gross rental and service income from
investment properties.
Six months ended 31 March
2004 2003
HK$'000 HK$'000
(a) Turnover
Property investment 35,698 36,456
=========================
(b) Contribution to operating profit
Property investment 21,583 23,612
Unallocated item - provision for
advances to an unlisted investment
(10,000) -
--------- --------
11,583 23,612
=========================
As the Group's principal business is property investment in Hong
Kong, an analysis of the Group's turnover and profit by business and
geographical segments has not been presented.
3. EARNINGS PER SHARE
The calculation of earnings per share is based on the profit
attributable to shareholders of HK$7,804,000 (2003: HK$19,529,000, as
restated) and the 25,000,000 shares in issue throughout the period.
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