SING PAO MEDIA<0164> - Results Announcement (Summary)
Sing Pao Media Group Limited announced on 20/7/2001:
(stock code: 164)
Year end date: 31/3/2001
Currency: HK$ (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2000 from 1/4/1999
to 31/3/2001 to 31/3/2000
('000) ('000)
Turnover : 514,658 693,899
Profit/(Loss) from Operations : (851,697) 87,879
Finance cost : (85,469) (103,101)
Share of Profit/(Loss) of Associates : (35,215) 86,503
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : (1,025,297) 18,533
% Change over Last Period : N/A
EPS/(LPS)-Basic : ($3.276) $0.059
-Diluted : ($3.281) $0.046
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : (1,025,297) 18,533
Final Dividend per Share : Nil Nil
(Specify if with other options) : - -
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : Nil
B/C Dates for Other Distribution : N/A
Remarks:
1. Certain figures in the last corresponding period have been changed. In
particular, "finance cost" has been separately disclosed to conform with
current year requirement and the EPS figures have been adjusted for the
effect of share consolidation approved on 2nd April, 2001.
2. Turnover and profit/(loss) from operations
Turnover Profit/(loss) from operations
2001 2000 2001 2000
HK$'000 HK$'000 HK$'000 HK$'000
Property development and
investment 412,513 527,820 140,755 (5,946)
Property rental 72,487 92,913 67,587 87,420
Publishing of newspaper and
magazines and advertising
income 24,560 - (12,890) -
Securities trading and
investments 5,098 73,166 (6,889) 46,252
Software development
- - (12,573) -
--------------------------------------------------------
514,658 693,899 175,990 127,726
=======================
Other revenue 12,588 14,103
Administrative expenses (78,587) (51,875)
Other operating expenses (6,792) -
Loss on disposal of subsidiaries (864,078) (2,075)
Unrealised holding loss on other
investment reclassified after
disposal of a former associate (42,166) -
Write-off of goodwill (46,855) -
Loss on deemed disposal of
interest in an associate (1,797) -
----------------------
Profit/(loss) from operations (851,697) 87,879
=======================
3. (Loss) earnings per share
The calculation of the basic and diluted (loss) earnings per share for the
year is based on the following data:
2001 2000
HK'000 HK'000
(Loss) earnings for the purposes of basic
(loss) earnings per share (1,025,297) 18,533
Effect of dilutive potential ordinary shares:
- adjustment to the share of results of a former
subsidiary based on dilution of its earnings
per share (1,230) (3,604)
- adjustment to the share of results of a
former associate based on dilution of its
(loss) earnings per share (158) (618)
----------------------
(Loss) earnings for the purposes of diluted (loss)
earnings per share (1,026,685) 14,311
=======================
2001 2000
Number of Number of
shares shares
Weighted average number of ordinary shares for the
purposes of basic (loss) earnings per share 312,947,194 312,947,194
Effect of dilutive potential ordinary shares in respect
of share options - 397,812
-------------------------
Weighted average number of ordinary shares for the
purposes of diluted (loss) earnings per share 312,947,194 313,345,006
==========================
The weighted average number of ordinary shares for the purpose of basic
and diluted (loss) earnings per share for 2001 and 2000 has been adjusted
for the effect of share consolidation approved on 2nd April, 2001.
For the year ended 31st March, 2001, the computation of diluted loss per
share did not assume the conversion of the Company's convertible
redeemable notes and share options which were surrendered in February 2001
as the Group incurred a loss for the year.
For the year ended 31st March, 2000, the computation of diluted earnings
per share did not assume the conversion of the Group's convertible
guaranteed bonds which were fully redeemed in February 2000 and the
Company's outstanding convertible redeemable notes since their exercise
would result in an increase in earnings per share from continuing ordinary
operations. Also, the computation of diluted earnings per share did not
assume the conversion of the Company's share options which lapsed in
October 1999 as the exercise price was higher than the average fair value
per share.
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