CHINA PHARMA<1093> - Results Announcement
China Pharmaceutical Enterprise and Investment Corporation Limited
announced on 22/5/2000:
(stock codes: Ord: 1093 & War: 837)
Year end date: 31/12/1999
Currency: HKD (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/1/1999 from 1/1/1998
to 31/12/1999 to 31/12/1998
Turnover
- Continuing : 821,321,000 596,342,000
- Discontinued : - -
Operating Profit
- Continuing : 137,344,000 102,870,000
- Discontinued : - -
Total Operating Profit : 137,344,000 102,870,000
Share of Profit/(Loss) of
Associated Companies : - -
Share of Profit of
Jointly Controlled Entities : 7,210,000 5,657,000
Profit after Tax & MI : 142,022,000 101,439,000
% Change over Last Period : +40%
EPS -Basic : 12.52 cents 9.71 cents
-Diluted : 12.41 cents N/A
Extraordinary (ETD) Gain : - -
Profitafter ETD Items : 142,022,000 101,439,000
Final Dividend per Share : 3.3 cents 3.0 cents
(Specify if with other options) : - -
B/C Dates for Final Dividend : 19/6/2000 to 23/6/2000 bdi.
Payable Date : 29/6/2000
B/C Dates for Annual General Meeting : 19/6/2000 to 23/6/2000 bdi.
Other Distribution for Current Period : -
B/C Dates for Other Distribution : N/A
Remarks:
(1) Earnings per share
The calculation of the basic and diluted earnings per share is based on
the following data:
1999 1998
Profit attributable to shareholders HK$142,022,000 HK$101,439,000
========== ==============
Weighted average number of ordinary
shares for the purposes of basic
earnings per share 1,134,591,763 1,045,176,525
Effect of dilutive potential ordinary
shares in respect of share options 9,560,976 N/A
----------- -----------
Weighted average number of
ordinary shares for the purposes
of diluted earnings per share 1,144,152,739 N/A
========= ===========
The computation of diluted earnings per share in 1999 does not assume the
exercise of the Company's outstanding warrants as the exercise
price is higher than the fair value per share during the year.
No diluted earnings per share is calculated for 1998 as the
exercise price of the Company's outstanding share options was
higher than the fair value per share during the year.
(2) Adoption of statement of standard accounting practice ("SSAP")
certain comparative figures have been restated to conform with
the current presentation as required under SSAP 1 (Revised)
"Presentation of financial statements" issued by the Hong Kong Society
of Accountants.
Because of the adoption of SSAP 1 (Revised), the Group has decided
to expense pre-operating expenses as they are incurred. The
effect of the adoption of this new accounting policy, which has been
applied retrospectively, has been to decrease the profit for the year
ended December 31, 1998 by HK$9,636,000. Comparative figures have been
restated to reflect this change in accounting policy.
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