EAGLE NICE<02368> - Results Announcement
Eagle Nice (International) Holdings Limited announced on 08/07/2005:
(stock code: 02368 )
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 : 451,446 325,411
Profit/(Loss) from Operations : 103,450 37,872
Finance cost : (189) (2,275)
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 : 94,061 32,086
% Change over Last Period : +193 %
EPS/(LPS)-Basic (in dollars) : 0.278 0.17
-Diluted (in dollars) : 0.225 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 94,061 32,086
Final Dividend : $0.06 $0.035
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 12/08/2005 to 16/08/2005 bdi.
Payable Date : 26/08/2005
B/C Dates for Annual
General Meeting : 12/08/2005 to 16/08/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Impact of recently issued Hong Kong Financial Reporting Standards ("
HKFRSs")
The Hong Kong Institute of Certified Public Accountants (the "HKICPA") has
issued a number of new and revised Hong Kong Financial Reporting Standards
and Hong Kong Accounting Standards, herein collectively referred to as the
"New HKFRSs", which are generally effective for accounting periods
beginning on or after 1 January 2005. The Group has not early adopted the
New HKFRSs in the financial statements for the year ended 31 March 2005.
The Group has already commenced an assessment of the impact of the New
HKFRSs but is not yet in a position to state whether the New HKFRSs would
have a significant impact on its results of operations and financial
position.
HKFRS 3 "Business Combinations" applies to accounting for business
combinations for which the agreement date is on or after 1 January 2005.
The Group did not have any business combinations during the year and,
accordingly, this HKFRS has had no impact on these financial statements.
Basis of preparation
These financial statements have been prepared in accordance with Hong Kong
Financial Reporting Standards (which also include Statements of Standard
Accounting Practice and Interpretations) issued by the HKICPA, accounting
principles generally accepted in Hong Kong and the disclosure requirements
of the Hong Kong Companies Ordinance. They have been prepared under the
historical cost convention, except for the periodic remeasurement of
certain fixed assets and long term investments.
Basis of consolidation
The consolidated financial statements include the financial statements of
the Company and its subsidiaries for the year ended 31 March 2005. The
results of subsidiaries acquired or disposed of during the year are
consolidated from or to their effective dates of acquisition or disposal,
respectively. All significant intercompany transactions and balances
within the Group are eliminated on consolidation.
2. DIVIDEND
2005 2004
HK$'000 HK$'000
Interim - HK4.5 cents (2004: HK3 cents) per ordinary share
based on 340,000,000 (2004: 200,000,000) shares in issue
15,300 6,000
Proposed final - HK6 cents (2004: HK3.5 cents) per
ordinary share based on 427,000,000 (2004: 340,000,000)
shares in issue 25,620 11,900
--------- ---------
40,920 17,900
====== ========
The proposed final dividend for the year is subject to the
approval of the Company's shareholders at the forthcoming annual
general meeting.
3. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the net profit
attributable to shareholders for the year of HK$94,061,000 (2004: HK$32,
086,000), and the weighted average of 337,821,918 ordinary shares in issue
(2004: 188,328,767 ordinary shares deemed to have been in issue) during
the year.
The calculation of diluted earnings per share for the year ended 31 March
2005 is based on the net profit attributable to shareholders for the year
of HK$94,061,000. The weighted average number of ordinary shares used in
the calculation is the 337,821,918 ordinary shares in issue during the
year as used in the basic earnings per share calculation and the weighted
average of 79,849,315 ordinary shares assumed to have been issued at no
consideration on the deemed conversion of the outstanding convertible note
since its date of issue to the date of conversion during the year.
A diluted earnings per share amount for the year ended 31 March 2004 has
not been disclosed as no diluting events existed during that year.
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