ORIENTAL WATCH<00398> - Results Announcement
ORIENTAL WATCH HOLDINGS LIMITED announced on 16/12/2003:
(stock code: 00398 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/4/2003 from 1/4/2002
to 30/9/2003 to 30/9/2002
Note ('000 ) ('000 )
Turnover : 748,761 876,404
Profit/(Loss) from Operations : 35,615 43,503
Finance cost : (620) (783)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 29,100 35,463
% Change over Last Period : -17.9 %
EPS/(LPS)-Basic (in dollars) : 0.1057 0.1288
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 29,100 35,463
Interim Dividend : 2.0 cents 2.0 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 6/1/2004 to 9/1/2004 bdi.
Payable Date : 15/1/2004
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. Taxation
Six months ended
30 September
2003 2002
` HK$'000 HK$'000
Hong Kong Profits Tax calculated at 17.5%
(2002: 16%)
on the estimated assessable
profit for the period
5,947 7,070
Mainland China (the "PRC") income tax
203 207
----------- ---------
6,150 7,277
Deferred taxation
255 20
-------------- ---------
5,895 7,257
========== =======
The PRC income tax is calculated at the applicable rates pursuant to the
relevant laws and regulations in the PRC.
2. Dividend
During the six months ended 30 September 2003, a final dividend of 3.5
Hong Kong cents per share, totaling HK$9,634,000, in respect of the year
ended 31 March 2003 was approved at the annual general meeting held on 28
August 2003 and subsequently paid to the shareholders.
On 16 December 2003, the directors resolved to declare an interim dividend
of 2.0 Hong Kong cents per share in respect of the six months ended 30
September 2003 (2002: 2.0 Hong Kong cents per share), totaling
approximately HK$5,505,000 (2002: HK$5,505,000) to be paid in cash to
those shareholders, whose names appear on the Company's register of
members on 9 January 2004.
3. Earnings per share
The calculation of the basic earnings per share is based on the net profit
attributable to
shareholders of HK$29,100,000 (2002: HK$35,463,000) and
number of 275,253,200 (2002: 275,253,200) shares in issue during the
period.
4. Segment Information
The Group's operation is regarded as a single segment, being an enterprise
engaged in watch trading.
The following is an analysis of the Group's geographical segment
information:
Profit
Turnover from operations
Six months ended Six months ended
30 September 30 September
2003 2002 2003 2002
HK$'000 HK$'000 HK$'000 HK$'000
Hong Kong 658,630 802,718 35,372 42,718
PRC 90,131 73,686 243 785
--------- --------- -------- -------
748,761 876,404 35,615 43,503
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