PREMIUM LAND<00164> - Results Announcement
Premium Land Limited announced on 27/7/2004:
(stock code: 00164 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/4/2003 from 1/4/2002
to 31/3/2004 to 31/3/2003
Note ('000 ) ('000 )
Turnover : 183,650 261,304
Profit/(Loss) from Operations : (171,302) (205,043)
Finance cost : (20,272) (16,014)
Share of Profit/(Loss) of
Associates : (40) 51
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (67,205) (220,464)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0177) (0.0688)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (67,205) (220,464)
Final Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
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. During the year, the Group has adopted, for the first time, the
revised Statement of Standard Accounting Practice ("SSAP") 12 "Income
Taxes", which is one of the Hong Kong Financial Reporting Standards
("HKFRS") issued by the Hong Kong Society of Accountants ("HKSA"). The
principal effect of the implementation of SSAP12 (Revised) is in relation
to deferred taxation. SSAP 12 (Revised) requires the adoption of a
balance sheet liability method, whereby deferred taxation is recognised in
respect of all temporary differences between the carrying amount of assets
and liabilities in the financial statements and the corresponding tax
bases used in the computation of taxable profit, with limited exceptions.
In the absence of any specific transitional requirements in SSAP 12
(Revised), the new accounting policy has been applied retrospectively.
2. LOSS PER SHARE
The calculation of the basic loss per share is based on the loss for the
year of HK$67,205,000 (2003: HK$220,464,000) and on the weighted average
number of 3,787,620,833 shares (2003: 3,202,436,654 shares) in issue.
The computation of diluted loss per share for the year ended 31st March,
2004 and 2003 does not assume the conversion of the Company's outstanding
share options and warrants since their exercise would result in a decrease
in the net loss per share from the operations.
3. The Board does not recommend the payment of dividend for the year
ended 31st March 2004 (2003 : NIL)
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