RONTEX INT'L<01142> - Results Announcement
Rontex International Holdings Limited announced on 28/7/2004:
(stock code: 01142 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/4/2003 from 1/4/2002
to 31/3/2004 to 31/3/2003
Note ('000 ) ('000 )
Turnover : 144,561 163,112
Profit/(Loss) from Operations : 16,715 34,104
Finance cost : (1,802) (1,715)
Share of Profit/(Loss) of
Associates : 566 512
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 14,253 30,235
% Change over Last Period : -52.86 %
EPS/(LPS)-Basic (in dollars) : 0.009 0.02
-Diluted (in dollars) : 0.009 0.02
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 14,253 30,235
Final Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual
General Meeting : 20/8/2004 to 24/8/2004 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. TURNOVER AND REVENUE
Turnover represents the net invoiced value of goods sold, after allowances
for returns and trade discounts. All significant intra-group transactions
have been eliminated on consolidation.
An analysis of the Group's turnover and other revenue is as follows:
2004 2003
HK$'000 HK$'000
Turnover:
Sale of goods 144,561 163,112
--------------------------
Other revenue:
Interest income 4 320
Dividend income from unlisted investments 83 835
Exchange gain - 84
Sundry income 524 305
--------------------------
611 1,544
Total revenue 145,172 164,656
==========================
2. PROFIT FROM OPERATIONS
The Group's profit from operations is arrived at after charging:
2004 2003
HK$'000 HK$'000
Staff costs (excluding directors' remuneration):
Wages and salaries 5,160 4,440
Retirement benefits contributions 134 130
--------------------------
5,294 4,570
--------------------------
Cost of inventories 102,888 111,818
Depreciation
- owned assets 2,028 1,610
- assets held under finance leases 73 41
Auditors' remuneration -
under-provision for the previous year 200 -
- provision for the year 700 400
Rental payment in respect of premises
under operating leases 240 71
Amortisation of deferred expenditure 75 75
--------------------------
3. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the net profit
from ordinary activities attributable to shareholders for the year of
HK$14,253,000 (2003: HK$30,235,000) and the weighted average of
1,600,136,800 (2003: as adjusted, 1,499,002,736) ordinary shares in issue
during the year.
The weighted average number of shares used to calculate the basic earnings
per share for the year ended 31st March 2003 included the pro forma issued
share capital of the Company deemed to have been issued throughout the
year, comprising the 20,000,000 shares in issue as at the date of the
Prospectus and the capitalisation issue of 144,000,000 shares. The
weighted average number of shares used to calculate the basic earnings per
share for the years ended 31st March 2003 and 2004 were adjusted according
to an ordinary resolution passed in the Annual General Meeting of the
Company held on 18th September 2003 in connection to the bonus issue of
200,000,000 shares on the basis of one bonus ordinary share for every one
existing share in the issued share capital of the Company on 18th
September 2003 and according to an ordinary resolution passed in the
Extraordinary General Meeting of the Company held on 20th February 2004 in
connection to the bonus issue of 1,200,000,000 shares on the basis of
three bonus ordinary shares for every one existing share in the issued
share capital of the Company on 21st January 2004.
Diluted earnings per share amount for the year ended 31st March 2004 has
not been presented as the effect of the assumed conversion of the
Company's outstanding share options would be anti-dilutive. There were no
potential dilutive shares in existence for the year ended 31st March 2003
and accordingly, no diluted earnings per share has been presented.
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