SINGAMAS CONT<0716> - Results Announcement
Singamas Container Holdings Limited announced on 17/8/2000:
(stock code: 716)
Year end date: 31/12/2000
Currency: US$ (Unaudited)
(Unaudited) Last
Current Corresponding
Period Period
from 1/1/2000 from 1/1/1999
to 30/6/2000 to 30/6/1999
('000) ('000)
Turnover
- Continuing : 76,929 58,995
- Discontinued : - -
Operating Profit/(Loss)
- Continuing : 3,394 1,408
- Discontinued : - -
Total Operating Profit/(Loss) : 3,394 1,408
Share of Profit/(Loss) of
Associated Companies : 301 238
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : 2,120 1,126
% Change over Last Period : +88.3%
EPS/(LPS)-Basic : US 0.46 cent US 0.25 cent
-Diluted : - -
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 2,120 1,126
Interim Dividend per Share : Nil Nil
(Specify if with other options) : - -
B/C Dates for Interim Dividend : -
Payable Date : -
B/C Dates for (-) General Meeting : -
Other Distribution for Current Period : -
B/C Dates for Other Distribution : -
Remark:
Change in Accounting Policy
In the financial year of 1999, the Group has adopted Statement of Standard
Accounting Practice 1 "Presentation of financial statements" ("SSAP1")
issued by the Hong Kong Society of Accountants.
Prior to 1999, pre-operating expenditure was capitalised and amortised, on
a straight line basis, over a period of five years from the date of
commencement of commercial operations of the subsidiaries. The adoption
of SSAP 1 has led to a reassessment of this accounting policy. In
particular, pre-operating expenditure is not considered to give rise to an
identifiable resource from which economic benefits are expected to flow to
the Group. Accordingly, such expenditure is now recognised as an expense
in the period in which it is incurred. This change in accounting policy
has been accounted for retrospectively. The comparative statements for
1999 have been restated to conform to the changed policy.
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