SOUNDWILL HOLD<00878> - Results Announcement
Soundwill Holdings Limited announced on 21/04/2005:
(stock code: 00878 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/12/2004 to 31/12/2003
Note ('000 ) ('000 )
Turnover : 134,378 124,603
Profit/(Loss) from Operations : 76,140 116,842
Finance cost : (36,634) (54,658)
Gain/(Loss) on disposal of
subsidiaries : 1,053 (203)
Share of Profit/(Loss) of
Associates : 17 (4)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 28,334 61,806
% Change over Last Period : -54 %
EPS/(LPS)-Basic (in dollars) : 0.25 0.82 (Restated)
-Diluted (in dollars) : 0.22 0.82 (Restated)
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 28,334 61,806
Final Dividend : $0.025 $0.02
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 24/05/2005 to 30/05/2005 bdi.
Payable Date : 17/06/2005
B/C Dates for Annual
General Meeting : 24/05/2005 to 30/05/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
(1) Basis of preparation
The Hong Kong Institute of Certified Public Accountants had issued a
number of new and revised Hong Kong Financial Reporting Standards and
Hong Kong Accounting Standard ("new HKFRSs") which are effective for
accounting periods beginning on or after 1 January 2005. The Group has
already commenced an assessment of the impact of these new HKFRSs but is
not yet in a position to state whether these new HKFRSs would have a
significant impact on its results of operations and financial position.
(2) Earnings per share
The calculation of basic earnings per share is based on the profit
attributable to shareholders of HK$28,334,000 (2003 : HK$61,806,000) and
on the weighted average of 111,487,217 (2003 : 75,530,691, restated)
shares in issue during the year.
During the year, the company made a bonus issue of shares on the basis
of one new share for every five existing shares on 8 June 2004 ("Bonus
Issue"). The weighted average number of shares for the year ended
31 December 2003, as if the Bonus Issue had occurred on 1 January 2003,
was deemed to be 75,530,691 shares (62,942,243 shares before restatement).
The calculation of diluted earnings per share for the previous year has
been adjusted accordingly for this effect from 62,964,997 shares to
75,557,996 shares.
The calculation of diluted earnings per share is based on the adjusted
net profit attributable to shareholders for the year of HK$28,859,000
(2003 : HK$61,806,000) and the weighted average of 129,994,685
(75,557,996, restated) shares outstanding during the year, adjusted
for the effects of all dilutive potential shares.
The adjusted net profit attributable to shareholders is calculated based
on the net profit attributable to shareholders for the year of
HK$28,334,000 plus the reduction in interest payable of HK$525,000
as a result of the deemed conversion of convertible bonds.
The weighted average number of shares used in the calculation of
diluted earnings per share is calculated based on the weighted average
of 111,487,217 shares in issue during the year plus the weighted average
of 18,507,468 shares deemed to be issued at no consideration as if all
the company's dilutive potential shares been issued.
(3) Comparative figures
Certain comparative figures has been reclassified to confirmed with the
current year's presentation.
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