SPREADPROSPECTS<00572> - Results Announcement
Spread Prospects Holdings Limited announced on 12/04/2005:
(stock code: 00572 )
Year end date: 31/12/2004
Currency: RMB
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 : 425,716 337,588
Profit/(Loss) from Operations : 117,377 101,407
Finance cost : (2,744) (2,871)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 90,135 78,718
% Change over Last Period : +14.5 %
EPS/(LPS)-Basic (in dollars) : 0.223 0.228
-Diluted (in dollars) : 0.222 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 90,135 78,718
Final Dividend : RMB0.030 RMB0.040
per Share (HK$0.028) (HK$0.038)
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 30/05/2005 to 03/06/2005 bdi.
Payable Date : 23/06/2005
B/C Dates for Annual
General Meeting : 30/05/2005 to 03/06/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. BASIS OF PREPARATION & PRINCIPAL ACCOUNTING POLICIES
The Company is incorporated as an exempted company with limited liability
in the Cayman Islands on 21 October 2002 under the Companies Law of the
Cayman Islands. Its shares are listed on the Main Board of The Stock
Exchange of Hong Kong Limited (the "Stock Exchange"). The Company's
ultimate holding company is Fu Teng Global Limited ("Fu Teng"), a company
incorporated in the British Virgin Islands.
The Company is an investment holding company. The principal activities of
the Group are the manufacture and sale of tinplate cans for the packaging
of food and beverage in the People's Republic of China (the "PRC"), and
provision of tinplate lacquering and printing services.
In 2004, the Hong Kong Institute of Certified Public Accountants issued a
number of new or revised Hong Kong Accounting Standards and Hong Kong
Financial Reporting Standards ("HKFRSs") (hereinafter 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 the new HKFRSs
but is not yet in a position to determine whether the new HKFRSs would
have a significant impact on how its results of operations and financial
position are prepared and presented. The new HKFRSs may result in changes
in the future as to how the results and financial position are prepared
and presented.
The financial statements have been prepared under the historical cost
convention and in accordance with accounting principles generally accepted
in Hong Kong.
2. DIVIDEND
The final dividend for the year ended 31 December 2004 of HK$0.028 (
equivalent to approximately RMB0.03) (2003: HK$0.038 (equivalent to
approximately RMB0.04)) per share has been proposed by the directors and
is subject to approval by the shareholders in general meeting.
3. EARNINGS PER SHARE
The calculation of the basic and diluted earnings per share is based on
the following data:
2004 2003
RMB'000 RMB'000
Earnings:
Net profit for the year for the
purposes of basic
earnings per share 90,135 78,718
--------
Effect of dilutive potential ordinary
shares:
Interest on convertible notes 94
--------
Net profit for the year for the purpose of
diluted earnings per share 90,229
---------
2004 2003
---- ----
Number of shares:
Weighted average number of ordinary shares for
the purposes of basic earnings per share 404,767,213 344,916,164
-------------
Effect of dilutive potential ordinary shares:
Convertible notes 1,557,377
-----------
Weighted average number of ordinary shares
for the purpose of diluted earnings per share
406,324,590
-------------
The 300,000,000 shares that were issued prior to the listing of the
Company's shares on the Stock Exchange on 2 July 2003 and pursuant to the
group reorganisation are treated as if they had been in issue throughout
the year ended 31 December 2003.
The computation of diluted earnings per share does not assume the exercise
of the Company's outstanding share options as the exercise price of these
options is higher than the average market price for the Company's shares
for the year ended 31 December 2004.
There were no potential dilutive ordinary shares outstanding during the
year ended 31 December 2003.
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