UPBEST GROUP<00335> - Results Announcement
Upbest Group Limited announced on 19/7/2004:
(stock code: 00335 )
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 : 74,185 50,790
Profit/(Loss) from Operations : 49,500 19,200
Finance cost : (3,178) (3,195)
Share of Profit/(Loss) of
Associates : 119 N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 38,144 13,123
% Change over Last Period : +190.67 %
EPS/(LPS)-Basic (in dollars) : 0.034 0.012
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 38,144 13,123
Final Dividend : 1 cent 0.48 cent
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 16/8/2004 to 30/8/2004 bdi.
Payable Date : 30/9/2004
B/C Dates for Annual
General Meeting : 16/8/2004 to 30/8/2004 bdi.
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 and Assets Management.
An analysis of the turnover and contribution to profit before taxation by
principal activities for the years ended March 31, 2004 and 2003 are as
follows:
2004 2003
Turnover Contribution Turnover Contribution
to profit to profit
before taxation before taxation
----------------------------------------------------------
(audited) (audited) (audited) (audited)
HK$'000 HK$'000 HK$'000 HK$'000
Securities brokerage and futures brokerage
19,362 9,688 11,392 3,421
Securities margin financing and money lending
38,591 34,193 30,414 24,108
Corporate finance advisory
13,799 12,290 6,083 4,150
Assets management
2,433 952 2,901 492
--------------------------------------------------------
74,185 57,123 50,790 32,171
====== =======
Net investment income (losses)
2,585 (1,867)
Provision for doubtful debts
(13,644) (14,246)
Bad debts written off (61) (182)
Other income 319 129
Share of results of an associate
119 -
-------- --------
Profit before taxation 46,441 16,005
Taxation (8,297) (2,882)
-------- --------
Profit after taxation 38,144 13,123
======== ========
2. Dividends
2004 2003
HK$'000 HK$'000
Final dividend proposed of HK1 cent (2003: HK0.48
cent) per ordinary share 11,200 5,376
-------------------------
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$38,144,000 (2003:
HK$13,123,000) and the weighted average number of 1,120,000,000 shares
(2003: 1,120,000,000 shares) in issue during the year.
There is no diluted earnings per share for the years ended March 31, 2004
and 2003 presented since the Company has no dilutive potential ordinary
shares.
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