UPBEST GROUP<00335> - Results Announcement
Upbest Group Limited announced on 18/07/2005:
(stock code: 00335 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2004 from 01/04/2003
to 31/03/2005 to 31/03/2004
Note ('000 ) ('000 )
Turnover : 58,175 74,185
Profit/(Loss) from Operations : 92,937 49,500
Finance cost : (2,801) (3,178)
Share of Profit/(Loss) of
Associates : (97) 119
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 83,488 38,144
% Change over Last Period : +119 %
EPS/(LPS)-Basic (in dollars) : 0.073 0.034
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 83,488 38,144
Final Dividend : 2.5 cents 1 cent
per Share
(Specify if with other : (scrip dividend N/A
options) election)
B/C Dates for
Final Dividend : 15/08/2005 to 19/08/2005 bdi.
Payable Date : 18/10/2005
B/C Dates for Annual
General Meeting : 15/08/2005 to 19/08/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
(1) SEGMENT INFORMATION
(a) Business segments
For management purposes, the Group is currently organised into five
operating divisions namely broking, financing, corporate finance, assets
management and property investment. These divisions are the basis on which
the Group reports its primary segment information.
An analysis of segment information of the Group about these businesses for
the years ended March 31, 2005 and 2004 is as follows:
Cor- Assets Property
Finan- porate manage- invest- Consoli-
Broking cing finance ment ment dated
2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004
HK$' HK$' HK$' HK$' HK$' HK$' HK$' HK$' HK$' HK$' HK$' HK$'
000 000 000 000 000 000 000 000 000 000 000 000
Segment:
revenue
Sales to external
customers
16,143 19,362 38,027 38,591 1,295 13,799 2,463 2,433 247 - 58,175 74,185
==========================================================================
Segment results
4,900 9,688 31,418 34,193 463 12,290 884 952 165 - 37,830 57,123
==========================================================================
Net investment
income - 2,585
Fair value
gain of
investment
properties 38,637 -
Gain on
acquisition of
a subsidiary 15,500 -
Provision for
doubtful debts (1,802)(13,644)
Bad debts
written off (200) (61)
Other income 171 319
Share of results
of an associate (97) 119
-------- -------
Profit before
taxation 90,039 46,441
Taxation (6,551) (8,297)
-------- -------
Net profit for
the year
attributable to
shareholders 83,488 38,144
====== ======
(b) Geographical segment
The Group's operations are principally located in Hong Kong and Macau.
Group administration is carried out in Hong Kong.
The following table provides an analysis of the Group's turnover by
geographical market and analysis of total assets and capital expenditure
by the geographical area in which the operations and assets are located.
Capital
Turnover Total assets expenditure
2005 2004 2005 2004 2005 2004
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Hong
Kong 57,928 74,185 515,409 486,050 976 1,079
Macau 247 - 235,726 - 131,363 -
------- ------- ------- ------- ------- -------
58,175 74,185 751,135 486,050 132,339 1,079
====== ====== ======= ======= ======= ======
(2) Dividends
2005 2004
HK$'000 HK$'000
Final dividend proposed of HK2.5 cents (2004: HK1 cent)
per ordinary share 30,719 11,200
====== ======
The Company proposes that a scrip dividend election will be offered to
shareholders with Hong Kong address. Subject to the approval of the
shareholders at the forthcoming Annual General Meeting, the final dividend
will be distributed on 18th October 2005 to shareholders whose names
appear on the Register of Members of the Company as at the close of
business on 12th August, 2005.
(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$83,488,000
(2004: HK$38,144,000) and the weighted average number of 1,137,579,414
shares (2004: 1,120,000,000 shares) in issue during the year.
There is no diluted earnings per share for the years ended March 31, 2005
and 2004 presented since the Company has no dilutive potential ordinary
shares.
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