TST PROPERTIES<0247> - Results Announcement
Tsim Sha Tsui Properties Limited announced on 26/9/2000:
(stock code: 247)
Year end date: 30/6/2000
Currency: HKD (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/7/1999 from 1/7/1998
to 30/6/2000 to 30/6/1999
Turnover : 2,417,622,291 2,838,681,641
Profit/(Loss) from Operations : 1,243,115,856 1,936,099,000
Finance cost : (855,060,674) (934,429,712)
Profit on Deemed Disposal of : - 68,645,581
Partial Interests in a listed subsidiary
Share of Profit/(Loss) of Associates : 994,748,075 712,149,063
Share of Profit/(Loss) of
Jointly Controlled Entities : - -
Profit/(Loss) after Tax & MI : 557,880,231 938,908,525
% Change over Last Period : -40.58%
EPS/(LPS)-Basic : 41.93 cents 71.58 cents
-Diluted : 41.90 cents 71.53 cents
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 557,880,231 938,908,525
Final Dividend per Share : 5 cents 5 cents
(Specify if with other options) : (with option to (with option to
elect shares) elect shares)
B/C Dates for Final Dividend : 9/11/2000 to 15/11/2000 bdi.
Payable Date : 19/12/2000
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remarks:
(1) The calculation of the basic and diluted earnings per share is based
on the following data:
2000 1999
HK$ HK$
Earnings for the purposes of basic
earnings per share 557,880,231 938,908,525
Effect of dilutive potential ordinary
shares of a subsidiary (359,315) (681,629)
----------- -----------
Earnings for the purposes of diluted
earnings per share 557,520,916 938,226,896
=========== ===========
Weighted average number of ordinary
shares for the purposes of basic and
diluted earnings per share 1,330,517,516 1,311,640,048
============= =============
The adjustment to comparative basic and diluted earnings per share,
arising from the change in accounting policy shown in note (2) below, is
as follows:
Basic Diluted
HK cents HK cents
Reconciliation of 1999 earnings per share
As previously reported 58.67 58.54
Adjustments arising from adoption of
SSAP 24 12.91 12.99
----- -----
As restated 71.58 71.53
===== =====
(2) Comparative figures
The presentation in the current year's financial statements has been
modified in order to conform with the requirements of the new Statements
of Standard Accounting Practice ("SSAP"s). In adopting SSAP 1 (Revised)
"Presentation of financial statements" and SSAP 2 (Revised) "Net profit or
loss for the period, fundamental errors and changes in accounting
policies", comparative amounts have been restated in order to achieve a
consistent presentation.
During the year, the Group has adopted SSAP 24 "Accounting for investments
in securities" and has selected the alternative treatment for securities
other than held-to-maturity securities. The accounting treatment
specified by SSAP 24 has been applied retrospectively - resulting in
decrease in other securities revaluation reserve, capital reserve and an
increase in retained profits at 1st July, 1998 of approximately HK$142
million, HK$18 million and HK$16 million respectively, and a revaluation
decrease in the current year of approximately HK$128 million (1999: an
increase of approximately HK$142 million) and an increase in the net
profit attributable to shareholders of the Group for the current year by
HK$81,863,254 (1999: HK$169,388,061).
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