SPREADPROSPECTS<00572> - Results Announcement
Spread Prospects Holdings Limited announced on 12/04/2006:
(stock code: 00572 )
Year end date: 31/12/2005
Currency: RMB
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 31/12/2005 to 31/12/2004
Note ('000 ) ('000 )
Turnover : 470,789 425,716
Profit/(Loss) from Operations : 113,183 117,377
Finance cost : (5,351) (2,717)
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 : 93,341 90,158
% Change over Last Period : +3.5 %
EPS/(LPS)-Basic (in dollars) : 0.221 0.223
-Diluted (in dollars) : 0.202 0.222
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 93,341 90,158
Final Dividend : RMB0.025 RMB0.030
per Share (HK$0.024) (HK$0.028)
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 01/06/2006 to 06/06/2006 bdi.
Payable Date : 23/06/2006
B/C Dates for Annual
General Meeting : 01/06/2006 to 06/06/2006 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. BASIS OF PREPARATION & PRINCIPAL ACCOUNTING POLICIES
In the current year, the Group has applied, for the first time, a number
of new Hong Kong Financial Reporting Standards ("HKFRS(s)"), Hong Kong
Accounting Standards ("HKAS(s)") and Interpretations ("INT(s)") (
hereinafter collectively referred to as "new HKFRSs") issued by the Hong
Kong Institute of Certified Public Accountants ("HKICPA") that are
effective for accounting periods beginning on or after 1 January 2005.
The application of the new HKFRSs has resulted in a change in the
presentation of the consolidated income statement, consolidated balance
sheet and consolidated statement of changes in equity. The changes in
presentation have been applied retrospectively. The adoption of the new
HKFRSs has resulted in changes to the Group's accounting policies that
have an effect on how the results for the current or prior accounting
periods are prepared and presented.
The consolidated financial statements have been prepared in accordance
with HKFRSs issued by the HKICPA. In addition, the consolidated financial
statements include applicable disclosures required by the Rules Governing
the Listing of Securities on the Stock Exchange and by the Companies
Ordinance.
The consolidated financial statements have been prepared under the
historical cost basis except for certain financial instruments, which are
measured at fair value.
2. DIVIDEND
The final dividend for the year ended 31 December 2005 of HK$0.024 (
equivalent to approximately RMB0.025) (2004: HK$0.028 (equivalent to
approximately RMB0.030)) 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:
2005 2004
RMB'000 RMB'000
(restated)
Earnings:
Profit for the year for the purposes of basic
earnings per share 93,341 90,158
Effect of dilutive potential ordinary shares:
Interest on convertible notes 1,788 67
Gain on decrease in fair value of
derivative financial instrument (389) -
------ -------
Profit for the year for the purpose of
diluted earnings per share 94,740 90,225
====== =======
2005 2004
Number of shares:
Weighted average number of ordinary
shares for the purposes of basic
earnings per share 422,800,000 404,767,213
Effect of dilutive potential
ordinary shares:
Convertible notes 46,705,805 1,557,377
------------- -----------
Weighted average number of ordinary
shares for the purpose of diluted
earnings per share 469,505,805 406,324,590
============= ===========
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 both years.
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