HUNG FUNG GROUP<1141> - Results Announcement
Hung Fung Group Holdings Limited announced on 28/8/2000:
(stock codes: Ord: 1141 & War:1099)
Year end date: 31/3/2000
Currency: HKD (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/1999 from 1/4/1998
to 31/3/2000 to 31/3/1999
('000) ('000)
Turnover
- Continuing : 290,600 241,254
- Discontinued : - -
Operating Profit/(Loss)
- Continuing : 30,286 32,029
- Discontinued : - -
Total Operating Profit/(Loss) : 30,286 32,029
Share of Profit/(Loss) of
Associated Companies : - -
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : 26,195 43,357
% Change over Last Period : -39.58%
EPS/(LPS)-Basic : 1.18 cents 2.17 cents
-Diluted : 1.12 cents N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 26,195 43,357
Final Dividend per Share : Nil Nil
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 26/9/2000 to 28/9/2000 bdi.
Other Distribution for Current Period : Nil
B/C Dates for Other Distribution : N/A
Remarks:
1. Earning per share
The calculation of basic earnings per share is based on the net profit
from ordinary activities attributable to shareholders for the year of
HK$26,195,000 (1999: HK$43,357,000) and the weighted average of
2,212,655,670 (1999: 2,000,000,000) ordinary shares in issue during the
year, adjusted to reflect the Shares Subdivision (as defined in note 4
below) subsequent to 31 March 2000 as detailed in the section "Shares
Subdivision" below.
The calculation of diluted earnings per share is based on the net profit
from ordinary activities attributable to shareholders for the year of
HK$26,195,000. The weighted average number of ordinary shares used in the
calculation is 2,212,655,670 ordinary shares in issue during the year, as
used in the basic earnings per share calculation, and the weighted average
of 133,658,529 ordinary shares assumed to have been issued at no
consideration on the deemed exercise of all share options and warrants
during the year, adjusted to reflect the Shares Subdivision subsequent to
the balance sheet date as detailed in the section "Shares Subdivision"
below.
2. Adjusted Earnings Per Share for 1999
The basic earnings per share for 1999 has been adjusted from HK21.68 cents
to HK2.17 cents to reflect the Shares Subdivision subsequent to 31 March
2000 as detailed in the section "Shares Subdivision" below.
The diluted earnings per share for the year ended 31 March 1999 has not
been calculated because no diluting events existed during that year.
3. Shares Subdivision
On April 5, 2000, a special general meeting was convened to approve the
Shares Subdivision. Upon the Shares Subdivision became unconditional and
effective on 6 April 2000, each of the Company's existing issued and
unissued ordinary shares of HK$0.10 each were subdivided into ten
Subdivided Shares (as defined in note 4 below) of HK$0.10 each The
authorized share capital of the Company became HK$100,000,000 divided into
10,000,000,000 ordinary shares of HK$0.01 each on the same day. The
subscription price of Warrants of the Company was adjusted from HK$0.47
per share to HK$0.05 per Subdivided Share. The subscription price and
number of shares available for subscription in respect of the share
options of the Company were adjusted from HK$0.46 per share and 7,070,000
shares to HK$0.046 per Subdivided Share and 70,700,000 Subdivided Shares,
respectively.
4. Definition of Shares Subdivision and Subdivided Shares
Pursuant to a special resolution passed on 5 April 2000, each of the
Company's existing issued and unissued ordinary shares of HK$0.10 each
were subdivided into ten ordinary shares of HK$0.01 each ("Subdivided
Shares") ("Shares Subdivision").
|
