SOUNDWILL HOLD<0878> - Results Announcement
Soundwill Holdings Limited announced on 23/4/1999:
(stock codes: Ord: 878 & War: 248)
The accounts which contain the following results are modified by the
Company's auditor. For more details, please refer to the press
announcement issued by the Company on 26/4/1999.
Year end date: 31/12/1998
Currency: HK$
Last
Current Corresponding
Period Period
from 1/1/1998 from 1/1/1997
to 31/12/1998 to 31/12/1997
('000) ('000)
Turnover/Interest Income : 623,294 559,543
Profit-Continuing Operations
- Operating Profit/(Loss) : (48,369) (20,601)
- Exceptional Items : (370,166) (39,699)
- Discontinued Operations : - -
Total Operating Profit/(Loss) : (418,535) (60,300)
Share of Profit/(Loss) of
Associated Companies : (96,508) 76,744
Profit/(Loss) after Tax & MI : (495,234) 2,441
% Change over Last Period : N/A
EPS/(LPS)-Basic : (39.50 cents) 0.24 cent
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : Nil Nil
Profit/(Loss) after ETD Items : (495,234) 2,441
Final Dividend per Share : Nil Nil
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 21/6/1999 to 23/6/1999 bdi.
Other Distribution for Current Period : Proposed bouns issue of
warrants
B/C Dates for Other Distribution : To be announced
Remarks:
1) Breakdown of Exceptional items:
1998 1997
HK$'000 HK$'000
(Loss)/profit on disposal of investment
properties (209,028) 12,828
Provision for diminution in value of
properties (90,704) (24,577)
Provision for doubtful debts (70,434) (27,950)
---------- ---------
(370,166) (39,699)
========== =========
2) Diluted Earnings Per Share
No diluted loss per share is shown for the year ended 31st December, 1998
and 31st December, 1997 as the exercise of the subscription rights
attached to the outstanding warrants, convertible bonds and share options
are anti-dilutive.
3) Proposed Bonus issue of warrants
The Directors are currently considering issuing a bonus issue of warrants.
The final terms of such bonus issue of warrants, which shall be issued
subject to the compliance of the relevant rules and regulations of The
Stock Exchange of Hong Kong Limited, has not yet been finalized. Further
announcement will be issued by the Company once such terms are finalized.
For more details, please refer to the press announcement today.
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