AEON STORES<00984> - Results Announcement
AEON Stores (Hong Kong) Co. Limited announced on 24/03/2005:
(stock code: 00984 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/03/2004 from 01/03/2003
to 31/12/2004 to 29/02/2004
Note ('000 ) ('000 )
Turnover : 3,981,000 4,608,801
Profit/(Loss) from Operations : 106,606 111,036
Finance cost : (9) (25)
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 : 79,461 85,844
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : 0.3056 0.3302
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 79,461 85,844
Final Dividend : 8.5 cents 13 cents
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 03/05/2005 to 06/05/2005 bdi.
Payable Date : 16/06/2005
B/C Dates for Annual
General Meeting : 03/05/2005 to 06/05/2005 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. CHANGE OF YEAR END DATE
During the period, the Company has changed its year end date from 28
February to 31 December. The financial statements presented therefore
cover the 10 months period from 1 March 2004 to 31 December 2004.
2. BASIS OF PREPARATION
The financial statements for the current period cover the ten months
period ended 31 December 2004. The corresponding amounts shown for the
income statement, statement of changes in equity, cash flows and related
notes covered a twelve-month period from 1 March 2003 to 29 February 2004
and therefore may not be comparable with amounts shown for the current
period.
3. INCOME TAX EXPENSES
1.3.2004 1.3.2003
to to
31.12.2004 29.2.2004
HK$'000 HK$'000
The charge comprises:
Current period/year
Hong Kong 22,500 20,748
Other regions in the PRC 4,247 3,437
-------------------------
26,747 24,185
(Over) under provision in prior years
Other regions in the PRC (521) 584
-------------------------
26,226 24,769
Deferred tax (credit) charge
Current period/year (1,796) 1,643
Attributable to a change in
tax rate -- (923)
-------------------------
(1,796) 720
Income tax expenses for the
period/year 24,430 25,489
========================
Hong Kong Profits Tax is calculated at 17.5% of the estimated assessable
profit for the period/year.
PRC income tax is calculated at 33% of the estimated assessable profits of
the subsidiaries.
4. DIVIDENDS
THE GROUP
1.3.2004 1.3.2003
to to
31.12.2004 29.2.2004
HK$'000 HK$'000
Final dividend in respect of the year ended 29.2.2004
of 13 HK cents (1.3.2002 to 28.2.2003:9 HK cents) per share
33,800 23,400
Interim dividend paid of 4 HK cents
(1.3.2003 to 29.2.2004:1 HK cent) per share
10,400 2,600
-----------------------------
44,200 26,000
=============================
The final dividend of 8.5 HK cents per ordinary share has been proposed by
the directors and is subject to approval by the Company's shareholders in
general meeting.
5. EARNINGS PER SHARE
The calculation of earnings per share is based on the Group's net profit
for the current period of HK$79,461,000 (1.3.2003 to 29.2.2004: HK$85,844
,000) and on 260,000,000 (1.3.2003 to 29.2.2004: 260,000,000) ordinary
shares in issue during the period/year.
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