UPBEST GROUP<00335> - Results Announcement
Upbest Group Limited announced on 20/07/2006:
(stock code: 00335 )
Year end date: 31/03/2006
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2005 from 01/04/2004
to 31/03/2006 to 31/03/2005
Note ('000 ) ('000 )
Turnover : 77,216 58,175
Profit/(Loss) from Operations : 175,902 92,700
Finance cost : (9,137) (2,564)
Share of Profit/(Loss) of
Associates : 248 (97)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 155,289 83,488
% Change over Last Period : +86 %
EPS/(LPS)-Basic (in dollars) : 0.125 0.073
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 155,289 83,488
Final Dividend : 2.8 cents 2.5 cents
per Share
(Specify if with other : with scrip with scrip
options) dividend election dividend election
option option
B/C Dates for
Final Dividend : 07/08/2006 to 11/08/2006 bdi.
Payable Date : 03/11/2006
B/C Dates for Annual
General Meeting : 07/08/2006 to 11/08/2006 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
(1) SEGMENT INFORMTION
(a) Business segments
Broking Financing Corporate finance Assets management
2006 2005 2006 2005 2006 2005 2006 2005
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales to external customers
15,433 16,143 53,883 38,027 2,216 1,295 2,565 2,463
=======================================================================
Segment results
4,631 4,900 40,054 31,418 1,498 463 1,774 884
=======================================================================
Property investment Investment holding Consolidated
2006 2005 2006 2005 2006 2005
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Segment revenue:
Sales to external customers
3,119 247 - - 77,216 58,175
=================================================================
Segment results
637 165 (1) - 48,593 37,830
=================================================================
Net investment income
Increase in fair value of investment properties 16,836 38,637
Gain on acquisition of a subsidiary 67,194 15,500
Gain on disposal of a subsidiary 18,100 -
Provision for doubtful debts (2,508) (1,802)
Bad debts written off - (200)
Bad debts recovered 18,484 -
Other revenue 66 171
Share of results of associates 248 (97)
------------------
Profit before taxation 167,013 90,039
Income tax expense (11,724) (6,551)
------------------
Profit for the year attributable to holders of the company
155,289 83,488
==================
(b) Geographical segments
The Group's operations are principally located in Hong Kong and Macau.
The Group's administration is carried out in Hong Kong.
The following table provides and 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.
Turnover Total assets Capital expenditure
____________________ ____________________ __________________________
2006 2005 2006 2005 2006 2005
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
Hong Kong
74,097 57,928 686,561 515,409 277 976
Macau
3,119 247 407,370 235,726 164 131,363
_________ _______ _________ ________ ____ ________
77,216 58,175 1,093,931 751,135 441 132,339
======== ======= ========== ======== === =========
(2) DIVIDEND
2006 2005
HK$'000 HK$'000
Final dividend proposed of HK2.8 cents
(2005: HK2.5 cents)
per ordinary share 35,087 30,719
========== ==========
The amount of the proposed final dividend for the year ended 31st March
2006 of HK2.8 cents will be payable in cash with an option to elect scrip
is not accounted for until it has been approved at the forthcoming annual
general meeting. The amount will be reflected as an appropriation of the
retained earnings in the year ending 31st March 2007.
(3) EARNINGS PER SHARE
The basic earnings per share is based on the Group's profit attributable
to equity holders of the parent of approximately HK$155,296,000 (2005:
HK$83,488,000) and the weighted average number of 1,239,769,701 (2005: 1,
137,579,414) ordinary shares in issue during the year.
There is no diluted earnings per share for the years ended 31st March,
2006 and 2005 presented since the Company has no dilutive potential
ordinary shares.
(4) CHANGE OF LAST YEAR FIGURES
The finance cost for the year ended 31st March 2005 had been changed from
HK$2,801K to HK$2,564K. This is resulted from the reclassification of
HK$237K bank charges from finance cost to administrative and other
operating expenses.
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