KARCE INTL HOLD<01159> - Results Announcement
Karce International Holdings Company Limited announced on 22/04/2005:
(stock code: 01159 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/12/2004 to 31/12/2003
Note ('000 ) ('000 )
Turnover : 774,255 589,653
Profit/(Loss) from Operations : 31,831 20,997
Finance cost : (3,556) (4,018)
Share of Profit/(Loss) of
Associates : 10,031 11,168
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 54,415 23,050
% Change over Last Period : +136.1 %
EPS/(LPS)-Basic (in dollars) : 0.0988 0.0419
-Diluted (in dollars) : 0.0984 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 54,415 23,050
Final Dividend : 1 cent 0.5 cent
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 24/05/2005 to 31/05/2005 bdi.
Payable Date : 30/06/2005
B/C Dates for Annual
General Meeting : 24/05/2005 to 31/05/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Potential impact arising from the recently issued accounting
standards
In 2004, the Hong Kong Institute of Certified Public Accountants (the "
HKICPA") issued a number of new or revised Hong Kong Accounting Standards
and Hong Kong Financial Reporting Standards (herein collectively referred
to as "new HKFRSs") which are effective for accounting periods beginning
on or after 1 January 2005. The Group has not early adopted these new
HKFRSs in the financial statements for the year ended 31 December 2004.
The Group has commenced considering the potential impact of these new
HKFRSs but is not yet in a position to determine whether these new HKFRSs
would have a significant impact on how its results of operations and
financial position are prepared and presented. These new HKFRSs may
result in changes in the future as to how the results and financial
position are prepared and presented.
2. Earnings per share
The calculation of the basic earnings and diluted earnings per share is
based on the following data:
2004 2003
HK$'000 HK$'000
Earnings for the purposes of basic earnings per
share 54,415 23,050
Effect of dilutive potential ordinary shares of an associate:
Interest income on convertible loan and
advances to an associate (227) -
Adjustment to the share of result of an
associate based on dilution of its earnings
per share 7 -
------------------------
Earnings for the purposes of diluted earnings
per share 54,195 23,050
======================
Weighted average number of ordinary shares for the purposes
of basic and diluted earnings per share 550,776,000 550,776,000
========================
The exercise price of the Company's outstanding share options was higher
than the average market price for shares in prior year and was therefore
not considered in the presentation of diluted earnings. The Company did
not have any outstanding share options during the year or at the balance
sheet date.
3. Comparative figures
Negative goodwill released of approximately HK$374,000 for the year ended
31 December 2003 has been reclassified below the heading of "profit from
operations" and disclosed separately.
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