UPBEST GROUP<00335> - Results Announcement
Upbest Group Limited announced on 04/07/2003:
(stock code: 00335 )
Year end date: 31/03/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2002 from 01/04/2001
to 31/03/2003 to 31/03/2002
Note ('000 ) ('000 )
Turnover : 50,790 51,245
Profit/(Loss) from Operations : 19,200 34,735
Finance cost : (3,195) (5,302)
Share of Profit/(Loss) of
Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 13,123 24,588
% Change over Last Period : -46.62 %
EPS/(LPS)-Basic (in dollars) : 0.012 0.022
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 13,123 24,588
Final Dividend : 0.48 cent 2.5 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 14/08/2003 to 20/08/2003bdi.
Payable Date : 22/09/2003
B/C Dates for Annual
General Meeting : 14/08/2003 to 20/08/2003bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. The Group is principally engaged in the provision of a wide range
of financial services including four core business segments, namely
Broking, Securities Margin Financing and Money Lending, Corporate Finance
Advisory, Placing and Underwriting, and Assets Management.
An analysis of the turnover and contribution to profit before taxation by
principal activities for the year is as follows:
2003 2002
---------------------------------------------------------
Contribution to Contribution to
profit before profit before
Turnover taxation Turnover taxation
---------------------------------------------------------
(audited) (audited) (audited) (audited)
HK$'000 HK$'000 HK$'000 HK$'000
Securities brokerage and futures brokerage
11,392 3,421 13,354 4,912
Securities margin financing & money lending
30,414 24,108 29,408 22,763
Corporate finance advisory, placing & underwriting
6,083 4,150 3,176 1,336
Assets management
2,901 492 5,307 1,156
------------------------------------------------------
50,790 32,171 51,245 30,167
====== ======
Provision for doubtful debts
(14,246) -
Bad debts written off (182) -
Net investment losses (1,867) (738)
Other income 129 4
----------- --------
Profit before taxation 16,005 29,433
Taxation (2,882) (4,845)
----------- --------
Profit after taxation 13,123 24,588
====== ======
2. Dividends
2003 2002
HK$'000 HK$'000
Interim dividend paid of Nil (2002: HK1.5 cents)
per ordinary share --- 4,200
Final dividend proposed of HK$0.48 cents
(2002: HK2.5cents)
per ordinary share 5,376 7,000
----------------------
5,376 11,200
===== ======
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$13,123,000 (2002:
HK$24,588,000) and the weighted average number of 1,120,000,000 shares
(pursuant to a resolution passed in the annual general meeting held on
July 15, 2002, there was bonus issue made on the basis of three bonus
shares for every one existing ordinary share held by shareholders) (2002:
1,120,000,000 shares after adjusting for the bonus issue in 2002) in issue
during the year.
There is no diluted earnings per share for the years ended March 31, 2003
and 2002 presented since the Company has no dilutive potential ordinary
shares.
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