PAC CHALLENGE<0166> - Results Announcement
Pacific Challenge Holdings Limited announced on 3/8/1999:
(stock code: 166)
Year end date: 31/3/1999
Currency: HK$
Last
Current Corresponding
Period Period
from 1/4/1998 from 1/4/1997
to 31/3/1999 to 31/3/1998
('000) ('000)
Turnover : 82,385 142,456
Profit-Continuing Operations
- Operating Profit/(Loss) : 31,211 81,403
- Exceptional Items : - -
- Discontinued Operations : - -
Total Operating Profit/(Loss) : 31,211 81,403
Share of Profit/(Loss) of
Associated Companies : - -
Profit/(Loss) after Tax & MI : 31,036 70,047
% Change over Last Period : -55.7%
EPS/(LPS)-Basic : 13 cents N/A
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 31,036 70,047
Final Dividend per Share : 8 cents N/A
(Specify if with other options) : - -
B/C Dates for Final Dividend : 15/9/1999 to 21/9/1999 bdi.
Payable Date : 30/9/1999
B/C Dates for Annual General Meeting : 15/9/1999 to 21/9/1999 bdi.
Other Distribution for Current Period : -
B/C Dates for Other Distribution : -
Remarks:
(1) Listing Date
Pacific Challenge Holdings Limited ("the Company") was listed on the Stock
Exchange of Hong Kong Limited (the "Stock Exchange") on 13th October 1998.
(2) Basis of Presentation of Annual Results of the Company and its
subsidiaries ("the Group") for the year ended 31st March 1999.
The Company was incorporated in Bermuda under the Companies Act 1981 as an
exempted company on 23 July 1998.
Pursuant to the group reorganization ("the Reorganisation") in preparation
for the listing of the Company's shares on The Stock Exchange of Hong Kong
Limited (the "Stock Exchange") on 13 October 1998, the Company acquired
the entire issued share capital of Optima Worldwide Investments Limited on
11 September 1998, and consequently became the holding company of the
Group. The Company and its subsidiaries resulting from the Reorganisation
have been regarded as a continuing group. Accordingly, the Reorganisation
has been accounted for on the basis of merger accounting, under which the
consolidated financial statements have been prepared as if the Company had
been the holding company of the other companies comprising the Group
throughout the year ended 31 March 1999 rather than from the date on which
the Reorganisation was completed. The comparative figures as at and for
the year ended 31 March 1998 have been presented on the same basis.
The consolidated financial statements include the accounts of the Company
and its subsidiaries. Significant intra-group transactions and balances
have been eliminated on consolidation.
(3) Earnings Per Share
The calculation of earnings per share for the year ended 31st March 1999
is based on the profit attributable to shareholders of about HK$31,036,000
and the number of shares in issue, being 238,880,000 immediately after the
listing.
No calculation for earnings per share for the year ended 31st March 1998
was made as the amount would not be comparable.
Diluted earnings per share is the same as basic earnings per share as
there are no share options, warrants or any other convertible instruments
which could cause dilution.
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