CHINA EB INT'L<00257> - Results Announcement
China Everbright International Limited announced on 14/04/2005:
(stock code: 00257 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/12/2004 to 31/12/2003
Note ('000 ) ('000 )
Turnover : 65,244 83,613
Profit/(Loss) from Operations : 28,322 (41,237)
Finance cost : (27,614) (31,374)
Share of Profit/(Loss) of
Associates : 104,017 96,569
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A 31,982
Profit/(Loss) after Tax & MI : 86,776 56,837
% Change over Last Period : +52.7 %
EPS/(LPS)-Basic (in dollars) : 0.0341 0.0223
-Diluted (in dollars) : 0.0335 0.0223
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 86,776 56,837
Final Dividend : 0.6 cent NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 12/05/2005 to 18/05/2005 bdi.
Payable Date : 23/06/2005
B/C Dates for Annual
General Meeting : 12/05/2005 to 18/05/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Turnover
The principal activities of the Group are toll bridge operation, property
investments and management, environmental protection project management
and consultancy, securities trading and investment holding.
Turnover represents the toll bridge revenue, property rental income,
property management fee income and environmental protection project
management and consultancy fee income. The amount of each significant
category of revenue recognised in turnover during the year is as follows:
2004 2003
HK$'000 HK$'000
Toll bridge revenue 47,103 19,916
Property rental income 12,819 13,822
Property management fee income 2,721 -
Environmental protection project management
and consultancy fee income 2,601 -
Sale of timber products - 49,270
Securities trading - 605
--------- ---------
65,244 83,613
========= =========
2. Income tax
2004 2003
HK$'000 HK$'000
Current tax - Provision for PRC income tax
Tax for the year 1,211 4,306
Over-provision in respect of prior year (3,208) -
--------- --------
(1,997) 4,306
Deferred tax
Origination and reversal of temporary
differences 1,669 206
Share of associates' taxation 18,835 13,336
--------- --------
18,507 17,848
========= ========
No provision for Hong Kong Profits Tax has been made as the Group
sustained a loss for Hong Kong Profits Tax purposes during the year.
Taxation for PRC operations is charged at the appropriate current rates of
taxation ruling in the PRC.
3. Earnings per share
(a) Basic earnings per share
The calculation of basic earnings per share is based on the profit
attributable to shareholders of HK$86,776,000 (2003:HK$56,837,000) and the
weighted average number of 2,548,418,257 ordinary shares (2003: 2,548,311
,700 ordinary shares) in issue during the year.
(b) Diluted earnings per share
The calculation of diluted earnings per share is based on the profit
attributable to ordinary shareholders of HK$86,776,000 (2003:HK$56,837,
000) and the weighted average number of 2,587,073,527 ordinary shares (
2003: 2,551,060,407 ordinary shares) after adjusting for the effects of
all dilutive potential ordinary shares under the Company's share option
scheme.
4. Dividend
Dividends attributable to the year
2004 2003
HK$'000 HK$'000
Interim dividend declared and paid of
0.4 cent per share (2003: $Nil) 10,193 -
Final dividend proposed after the balance
sheet date of 0.6 cent per share (2003: $Nil) 15,293 -
--------- ---------
25,486 -
========= =========
The final dividend proposed after the balance sheet date has not been
recognised as a liability at the balance sheet date.
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