JUSCO STORES<00984> - Results Announcement
Jusco Stores (Hong Kong) Co. Limited announced on 16/05/2003:
(stock code: 00984 )
Year end date: 28/2/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/3/2002 from 1/3/2001
to 28/2/2003 to 28/2/2002
Note ('000 ) ('000 )
Turnover : 39,611,113 3,720,924
Profit/(Loss) from Operations : 83,062 114,473
Finance cost : (23) (125)
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 : 56,896 76,958
% Change over Last Period : -26.07 %
EPS/(LPS)-Basic (in dollars) : 0.2188 0.296
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 56,896 76,958
Final Dividend : 9 cents 9.5 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 16/06/2003 to 19/06/2003bdi.
Payable Date : 8/8/2003
B/C Dates for Annual
General Meeting : 16/06/2003 to 19/06/2003bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. INCOME TAX EXPENSES
THE GROUP
2003 2002
HK$'000 HK$'000
The charge comprises:
Hong Kong Profits Tax calculated at 16% of the
estimated assessable profits 19,745 17,100
Underprovision in previous years 101 -
------- --------
19,846 17,100
PRC income tax 9,872 14,831
-------- -------
29,718 31,931
======= =======
PRC income tax is calculated at 33% of the estimated assessable profits of
the subsidiary.
2. EARNINGS PER SHARE
The calculation of earnings per share is based on the Group's net profit
for the year of HK$56,896,000 (2002: HK$76,958,000) and on 260,000,000
(2002: 260,000,000) ordinary shares in issue during the year.
3. PROFIT FORM OPERATIONS AND RECLASSIFICATION OF INVESTMENT INCOME
Investment income has been re-classified as an item contributing to the
Profit from operations in the current year presentation but has had no
material effect on the Profit from ordinary activities before taxation for
the current or prior accounting periods, as follows:
For the year ended 28 February, 2002
Current year's
presentation
Prior year's presentation after re-classification
HK$'000 HK$'000
--------------------------- ------------------------
Turnover 3,720,924 3,720,924
Other revenue 213,421 213,421
Investment income - 5,147
Changes in inventories (2,673,153) (2,673,153)
Staff costs (362,016) (362,016)
Depreciation (85,140) (85,140)
Loss on disposal of
property,
plant and equipment (2,824) (2,824)
Pre-operating expenses (4,206) (4,206)
Impairment loss on
property,
plant and equipment (12,000) (12,000)
Other operating
expenses (685,680) (685,680)
----------- ----------
Profit from operations 109,326 114,473
Finance costs (125) (125)
Investment income 5,147 -
----------- ---------
Profit from ordinary
activities
before taxation 114,348 114,348
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