Listed Company Information
 

K. WAH INT'L<00173> - Results Announcement

K. Wah International Holdings Limited announced on 14/09/2006:
(stock code: 00173 )
Year end date: 31/12/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2006    from 01/01/2005
                                     to 30/06/2006      to 30/06/2005
                               Note  ('000      )       ('000      )
                                                        (Restated)
Turnover                        2  : 129,203            173,669           
Profit/(Loss) from Operations   3  : 598,257            631,226           
Finance cost                       : (48,222)           (14,669)          
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 1,843              20,531            
Profit/(Loss) after Tax & MI       : 108,277            631,585           
% Change over Last Period          : -83       %
EPS/(LPS)-Basic (in dollars)    4  : 0.0452             0.2793            
         -Diluted (in dollars)  5  : 0.0449             0.2630            
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 108,277            631,585           
Interim Dividend                   : 1 cent             1 cent
  per Share                                              
(Specify if with other             : scrip dividend     N/A
  options)                           with cash option    
                                                         
B/C Dates for 
  Interim Dividend                 : 09/10/2006         to 13/10/2006 bdi.
Payable Date                       : 24/11/2006
B/C Dates for (-)            
  General Meeting                  : N/A   
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A   

Remarks:

1. Basis of preparation

The interim financial information has been prepared under the historical 
cost convention,  as modified by the revaluation of investment properties, 
available-for-sale investments and other investments, which are carried at 
fair values and in accordance with Hong Kong Accounting Standard 34 "
Interim Financial Reporting" issued by the Hong Kong Institute of 
Certified Public Accountants ("HKICPA").

The accounting policies and methods of computation used in the preparation 
of the interim financial information are consistent with those used in the 
annual financial statements for the year ended 31st December 2005.

In the current period, the Group has also applied, for the first time, the 
new standards, amendments and interpretations issued by the HKICPA that 
are effective for the accounting periods beginning on or after 1st January 
2006. However, the adoption of these new standards does not have any 
significant effect on the accounting policies or results and financial 
position of the Group.


2. Turnover                             
Analysis of turnover from continuing operations and discontinued 
operations:
                                2006            2005
                                HK$             HK$
        Continuing operations   129,203,000     173,669,000 
        Discontinued operations           -     546,158,000 
                                ------------------------------
                                129,203,000     719,827,000 
                                ==============================
                                        
        
3. Profit from operations from continuing operations and discontinued 
operations:
                                2006            2005
                                HK$             HK$
        Continuing operations   598,257,000      41,646,000 
        Discontinued operations           -     589,580,000 
                                ------------------------------
                                598,257,000     631,226,000 
                                ==============================
        
        
4. The calculation of basic earnings per share is based on the profit 
attributable to shareholders of HK$108,277,000 (2005: HK$631,585,000) and 
the weighted average number of 2,394,314,000 shares (2005: 2,261,175,000 
shares) in issue during the period.

5. The calculation of diluted earnings per share for 2006 is based on the 
adjusted profit attributable to shareholders of HK$109,551,000 and the 
weighted average number of 2,438,401,000 shares after adjusting for the 
effects of all dilutive potential shares arising from share options and 
convertible bonds. 

The calculation of diluted earnings per share for 2005 was based on the 
profit attributable to shareholders of HK$631,585,000 and the weighted 
average number of 2,261,175,000 shares in issue plus 140,370,000 potential 
shares arising from share options only as the convertible bonds were anti
-dilutive.

6. The comparative figures of 2005 have been restated to conform with the 
current presentation.