N P H INT'L<0182> - Results Announcement
N P H International Holdings Limited announced on 6/9/1999:
(stock code: 182)
The accounts which contain the following results are qualified by
the Company's auditor. For more details, please refer to the press
announcement issued by the Company on 7/9/1999.
Year end date: 31/3/1999
Currency: HK Dollars
Last
Current Corresponding
Period Period
from 1/4/1998 from 1/4/1997
to 31/3/1999 to 31/3/1998
('000) ('000)
Turnover : 100,935 177,297
Profit-Continuing Operations
- Operating Profit/(Loss) : (55,801) 8,604
- Exceptional Items : (188,339) (5,078)
- Discontinued Operations : (39,130) 1,346
Total Operating Profit/(Loss) : (283,270) 4,872
Share of Profit/(Loss) of
Associated Companies : - -
Profit/(Loss) after Tax & MI : (282,611) 1,387
% Change over Last Period : N/A
EPS/(LPS)-Basic : (57.29 cents) 0.38 cent
-Diluted : N/A 0.38 cent
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : (282,611) 1,387
Final Dividend per Share : NIL NIL
(Specify if with other options) : - -
B/C Dates for Final Dividend : -
Payable Date : -
B/C Dates for (-) General Meeting : -
Other Distribution for Current Period : -
B/C Dates for Other Distribution : -
Remarks:
(1) Basic of presentation
Pursuant to a group reorganization scheme (the "Scheme") which became
effective on 30 September 1997, the Company became the ultimate holding
company of Foster (Group) Limited, a company incorporated in Hong
Kong and listed on the The Stock Exchange of Hong Kong Limited before the
Scheme became effective.
The comparative consolidated financial statements have been prepared
on the basis of merger accounting, under which the consolidated results
have been prepared as if the Company had been the ultimate holding
company of the other companies comprising the Group throughout the
year ended 31 March 1998, rather than from the date on which the Scheme
was completed.
(2) Discontinued operations
The Group discontinued the trading of petrochemical products in Hong
Kong and Mainland China during the year. Accordingly, certain
comparative figures have been reclassified to conform with the current
year's presentation.
(3) Exceptional items
1999 1998
HK$'000 HK$'000
Continuing operations:
Provision for the decline in recoverable
amount of a property in Shenzhen (43,447) -
Provision against loans receivable (83,862) -
Provision against the proceeds
receivable from gain of a stock
option transaction (15,500) -
Gain on disposals of subsidiaries - 18,915
Loss the repossession of a subsidiary
disposed of in the prior year (15,989) -
Loss on disposal of a subsidiary and
a land use right - (7,169)
Gain on disposal of investment properties - 4,499
Provision for permanent diminutions
in value of long-term investments (16,240) (16,702)
Loss on disposal of long-term investments (13,301) (4,636)
Expenditures and losses incurred on
closure of certain retail outlets - (3,358)
Reimbursement of certain extra
operating expenses from a former
shareholders - 5,866
Expenses incurred in the implementation
of the Scheme - (2,493)
------------ ------------
(188,339) (5,078)
Discontinued operations:
Provision for doubtful receivables relating
to trading of petrochemical products (34,569) -
---------- ----------
(222,908) (5,078)
========= =======
(4) Earnings / (loss) per share
The calculation of basic earnings/(loss) per share is based on the net
loss attributable to shareholders of HK$282,611,000 (1998: profit of
HK$1,387,000) and on the weighted average number of 493,328,970
(1998: 363,822,043) ordinary shares in issue during the year.
Diluted loss per share for the year ended 31 March 1999 has not been
calculated as the effect of the assumed conversion of the share options of
the Company during the year would be anti-dilutive.
The calculation of diluted earnings per share for the year ended 31 March
1998 is based on the net profit attributable to shareholders for the year
of approximately HK$1,387,000, and the adjusted weighted average number
of 363,931,938 ordinary shares after taking into account the weighted
average number of shares which would have been in issue at no
consideration on the deemed exercise of all share options during the year.
The basic and diluted loss per share for the year ended 31 March 1999 have
been calculated, and diluted earnings per share for the year ended 31
March 1998 have been restated, in accordance with the provisions of
Statement of Standard Accounting Practice No. 5 (Revised) issued by the
Hong Kong Society of Accountants in May 1998.
For more details, please refer to the press announcement today.
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