AEON STORES<00984> - Results Announcement
AEON Stores (Hong Kong) Co. Limited announced on 21/10/2004:
(stock code: 00984 )
Year end date: 28/02/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/03/2004 from 01/03/2003
to 31/08/2004 to 31/08/2003
Note ('000 ) ('000 )
Turnover : 2,242,996 2,085,478
Profit/(Loss) from Operations : 38,022 8,639
Finance cost : (8) (13)
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 : 26,711 5,853
% Change over Last Period : +356 %
EPS/(LPS)-Basic (in dollars) : 0.1027 0.0225
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 26,711 5,853
Interim Dividend : 4 cents 1 cent
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 16/11/2004 to 19/11/2004bdi.
Payable Date : 30/11/2004
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 condensed financial statements have been prepared in accordance
with the applicable disclosure requirements of Appendix 16 to the
Rules Governing the Listing of Securities on The Stock Exchange of
Hong Kong Limited and SSAP No. 25 "Interim financial reporting"
issued by the Hong Kong Institute of Certified Public Accountants.
2. PRINCIPAL ACCOUNTING POLICIES
The condensed financial statements have been prepared under the
historical cost convention.
The accounting policies adopted are consistent with those adopted
by the Group in its annual financial statements for the year ended
29 February 2004.
3. INCOME TAX EXPENSES
Six months ended
31.8.2004 31.8.2003
--------- ---------
HK$'000 HK$'000
Current tax:
Hong Kong Profits Tax 7,300 8,265
PRC income tax 1,984 863
Overprovision of PRC income tax
in previous periods - (921)
--------- ---------
9,284 8,207
--------- ---------
Deferred tax in Hong Kong:
(Credit) charge for the current period (162) 1,241
Attributable to a change in tax rate
in Hong Kong - (923)
--------- ---------
(162) 318
--------- ---------
9,122 8,525
========= =========
Hong Kong Profits Tax is calculated at 17.5% (2003: 17.5%) of the
estimated assessable profit for the six months ended 31 August 2004.
PRC income tax is calculated at 33% of the estimated assessable
profit of the subsidiaries.
4. DIVIDENDS
On 28 July 2004, a dividend of 13.0 HK cents (2003: 9.0 HK cents)
per share amounting to HK$33,800,000 (2003: HK$23,400,000) was paid
to shareholders as the final dividend for the year ended
29 February 2004.
The Board of directors have declared that an interim dividend of
4.0 HK cents (2003: 1.0 HK cent) per share amounting to
HK$10,400,000 (2003: HK$2,600,000) be paid to the shareholders of
the Company whose names appear on the Register of Members on
19 November 2004. The interim dividend will be paid on or before
30 November 2004.
5. EARNINGS PER SHARE
The calculation of earnings per share is based on the Group's net
profit for the period of HK$26,711,000 (2003: HK$5,853,000) and on
260,000,000 (2003: 260,000,000) ordinary shares in issue during the
period.
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