WANG ON GROUP<01222> - Results Announcement (Summary)
Wang On Group Limited announced on 19/12/2003:
(stock code: 01222 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee
(Restated)
(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 : 156,307 153,400
Profit/(Loss) from Operations : 23,794 19,267
Finance cost : (1,053) (1,238)
Share of Profit/(Loss) of
Associates : (6,697) (5,686)
Amortisation of Goodwill of
Associates : (5,308) (4,995)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 7,238 5,413
% Change over Last Period : +33.7 %
EPS/(LPS)-Basic (in dollars) : 0.0613 0.0471
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 7,238 5,413
Interim Dividend : 3.0 cents NIL
per Share
(Specify if with other : (in cash form with N/A
options) scrip option of all or
part of the proposed
interim dividend)
B/C Dates for
Interim Dividend : 7/1/2004 to 9/1/2004 bdi.
Payable Date : 3/2/2004
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. Certain comparative amounts have been restated due to the adoption
of the revised SAAP 12 "Income Taxes" during these periods.
2. Earnings per share
The calculation of basic earnings per share is based on the net profit
attributable to shareholders for the period of HK$7,238,000 (2002
(restated): HK$5,413,000), and on the weighted average of 118,143,655
(2002: 114,840,377) ordinary shares in issue during the period, as
adjusted to reflect the capital reorganization in October 2002.
Diluted earnings per share amounts for the periods ended 30 September 2003
and 2002 have not been disclosed as no diluting events existed during
these periods.
3. Interim dividend and scrip dividend scheme
The directors of the Company (the "Directors") have resolved to declare an
interim dividend of 3.0 HK cents (2002: Nil) per share for the six months
ended 30 September 2003. The interim dividend will be payable on 3
February 2004 to those shareholders whose names appear on the register of
members of the Company on 9 January 2004 (the "Record Date").
The Directors have also resolved that shareholders be given the option to
elect to receive an allotment and issue of shares of the Company credited
as fully paid in lieu of cash in respect of part or all of the proposed
interim dividend ("Scrip Dividend Scheme"). The market value of the new
shares to be issued under the Scrip Dividend Scheme will be fixed by
reference to the average of the closing prices of the Company's shares on
The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for the
five consecutive trading days up to and including the Record Date less a
discount of ten per cent., or the par value of the shares, whichever is
the higher. The Scrip Dividend Scheme is conditional upon the Stock
Exchange grating listing of, and permission to deal in, the new shares to
be issued. A circular giving full details of the Scrip Dividend Scheme
and a form of election will be sent to shareholders on or about 14 January
2004.
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