SOUTH EAST GP<0726> - Results Announcement
South East Group Limited announced on 30/8/1999:
(stock code: 726)
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/Interest Income : 52,748 138,015
Profit-Continuing Operations
- Operating Profit/(Loss) : (17,030) (104,065)
- Exceptional Items : (26,227) 196,874
- Discontinued Operations : (3,364) (1,611)
Total Operating Profit/(Loss) : (46,621) 91,198
Share of Profit/(Loss) of
Associated Companies : - 100
Profit/(Loss) after Tax & MI : (46,621) 91,298
% Change over Last Period : N/A
EPS/(LPS)-Basic : (1.41 cents) 3.22 cents
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (46,621) 91,298
Final Dividend per Share : NIL NIL
(Specify if with other options) : NIL NIL
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) Exceptional Items of Continuing Operations
1999 1998
HK$'000 HK$'000
Waiver of indebtedness owed to the
Bankers - 388,678
Provision for the intended disposal of
a subsidiary in Indonesia - (134,996)
Provision for impairment of fixed
assets (26,227) (22,451)
Provision for permanent diminution
in value of a long term investment - (16,333)
Provision for a deposit placed with a
finance company - (38,675)
Provision for severance payments - (1,689)
Provision written back in respect of
slow moving an obsolete stocks - 22,340
--------- ---------
(26,227) 196,874
======== ========
(2) Taxation
No provision for Hong Kong and overseas profits tax has been made
in the financial statements for the current year as the Group has no
assessable profits for the year.
(3) Dividends
The board of Directors does not recommend the payment of a dividend for
the year ended 31st March 1999.
(4) (Loss) / Earnings per share
The calculation of (loss) / earnings per share is based on the
consolidated loss attributable to shareholders for the year of
HK$46,621,000 (1998: profit of HK$91,298,000) and on the weighted average
of 3,305,718,800 (1998: 2,834,398,000) shares in issue during the year.
Company has no dilutive potential ordinary shares that were outstanding
during the two years ended 31st March, 1999.
(5) Discountinued operations
The Group previously engaged in the manufacture and trading of compact
disc jewel boxes through a wholly owned subsidiary, Benelux Manufacturing
(N.I.) Limited ("BMNI"), in Northern Ireland. BMNI ceased its operations
in September 1996. The operating loss arising from this discontinued
operations for the year represents the incidental costs incurred in
relation to the disposal of the assets of BMNI.
(6) Comparative figures
Certain comparative figures have been re-classified to conform with the
current year's presentation.
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