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.
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