UPBEST GROUP<00335> - Results Announcement (Summary)
Upbest Group Limited announced on 15/7/2002:
(stock code: 335)
Year end date: 31/3/2002
Currency: HK$
Auditors' Report: Unqualified
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2001 from 1/4/2000
to 31/3/2002 to 31/3/2001
('000) ('000)
Turnover : 51,245 64,338
Profit/(Loss) from Operations : 34,735 71,640
Finance cost : (5,302) (8,069)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 24,588 56,692
% Change over Last Period : -57%
EPS/(LPS)-Basic : 8.8 cents 23.1 cents
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 24,588 56,692
Final Dividend per Share : 2.5 cents 10 cents
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : 19/8/2002 to 23/8/2002 bdi.
Payable Date : 16/9/2002
B/C Dates for Annual General Meeting : 19/8/2002 to 23/8/2002 bdi.
Other Distribution for Current Period : 3 bonus shares for every 1
existing issued ordinary
shares.
B/C Dates for Other Distribution : 19/8/2002 to 23/8/2002 bdi.
Remarks:
1. TURNOVER AND SEGMENT INFORMATION
The Group is principally engaged in the provision of a wide range of
financial services including four core business segments, namely Broking,
Margin Financing and Loan Financing, Corporate Advisory, Placing and
Underwriting, and Assets Management. An analysis of the Group's turnover
and contribution to the profit from operations by business and
geographical segments for the years ended March 31, 2002 and 2001 is as
follows:
(a) Business segments
Broking Margin financing Corporate advisory,
and Loan financing placing and underwriting
2002 2001 2002 2001 2002 2001
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales to external customers
13,354 22,554 29,408 37,756 3,176 3,543
=====================================================================
.Segment results
4,912 11,946 22,763 28,629 1,336 1,963
=====================================================================
Assets management Consolidated
2002 2001 2002 2001
HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales to external customers
5,307 485 51,245 64,338
======================================================================
.Segment results
1,156 460 30,167 42,998
======================================================================
Net investment (loss)/ income
(738) 20,427
Other income 4 146
----------------------
Profit from operation 29,433 63,571
Taxation 4,845 6,879
----------------------
Net profit attributable to shareholders 24,588 56,692
======================
(b) Geographical segment
No geographical analysis is presented as all the Group's revenue and
results are derived from activities in Hong Kong.
2. DIVIDENDS
2002 2001
HK$'000 HK$'000
Special dividends 0 46,000
Interim dividends paid at HK1.5 cents
(2001 : Nil) per ordinary share 4,200
Final dividends proposed at HK2.5 cents
(2001: HK 10 cents) per ordinary share 7,000 28,000
-----------------------
11,200 74,000
=======================
The special dividends for 2001 were paid by certain subsidiaries of the
Group to their then shareholders prior to the group reorganization in the
last year.
3. BASIC EARNINGS PER SHARE
The calculation of basic earnings per share for the year is based on the
net profit attributable to shareholders of HK$24,588,000 (2001:
HK$56,692,000) and the weighted average number of 280,000,000 (2001:
245,000,000) shares in issue during the year.
There is no diluted earnings per share for the years ended March 31, 2002
and 2001 presented since the Company has no dilutive potential ordinary
shares.
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