MENGNIU DAIRY<02319> - Results Announcement
China Mengniu Dairy Company Limited announced on 10/04/2006:
(stock code: 02319 )
Year end date: 31/12/2005
Currency: RMB
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 31/12/2005 to 31/12/2004
Note ('000 ) ('000 )
Turnover : 10,824,950 7,213,827
Profit/(Loss) from Operations : 651,488 439,618
Finance cost 2 : (31,058) (29,086)
Share of Profit/(Loss) of
Associates 3 : (3,295) 21
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 456,847 319,393
% Change over Last Period : +43 %
EPS/(LPS)-Basic (in dollars) 1 : 0.365 0.357
-Diluted (in dollars) 1 : 0.334 0.285
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 456,847 319,393
Final Dividend : RMB 0.0686 RMB 0.0585
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : 20/06/2006 to 23/06/2006 bdi.
Payable Date : 17/07/2006
B/C Dates for Annual
General Meeting : 20/06/2006 to 23/06/2006 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Earnings per share
The calculation of basic earnings per share for the year is based on the
net profit for the year attributable to ordinary equity holders of the
Company of RMB456,847,000 (2004: RMB319,393,000) and the weighted average
number of 1,251,129,000 (2004: 893,965,000) ordinary shares in issue
during the year.
The weighted average number of shares used to calculate the basic earnings
per share for the year ended 31 December 2005 includes approximately 257,
891,000 ordinary shares issued upon conversion of the convertible
instrument on 16 June 2005. The weighted average number of shares used to
calculate the basic earnings per share for the year ended 31 December 2004
included 250,000,000 ordinary shares issued upon the listing of the
Company's shares on The Stock Exchange of Hong Kong Limited on 10 June
2004 and approximately 110,525,000 ordinary shares issued upon conversion
of the convertible instrument on 20 December 2004.
The calculation of diluted earnings per share is based on the net profit
for the year attributable to ordinary equity holders of the Company of
RMB456,847,000 (2004: RMB319,393,000) and the weighted average number of
approximately 1,368,416,000 (2004: 1,118,851,000) ordinary shares in issue
during the year, being the weighted average number of ordinary shares
outstanding during the year, adjusted for the effects of dilutive
potential ordinary shares outstanding during the year.
A reconciliation of the weighted average number of shares used in
calculating the basic and diluted earnings per share amounts is as
follows:
2005 2004
Number of Number of
shares shares
'000 '000
Weighted average number of ordinary shares for the purpose of the basic
earnings per share calculation 1,251,129 893,965
Weighted average number of ordinary shares, assumed to be issued at the
conversion of convertible instrument at the beginning of the year
117,287 224,886
---------------------------
Weighted average number of ordinary shares for the purpose of the diluted
earnings per share calculation 1,368,416 1,118,851
===========================
2. Finance costs shown above are net of interest income amounting to
approximately RMB12,898,000 (2004: RMB10,346,000).
3. As a result of the revision of IAS 1 "Presentation of Financial
Statements", the Group's share of tax attributable to associates for the
year ended 31 December 2004 of approximately RMB11,000 was included in the
consolidated income statement as the Group's share of profits of
associates instead of the income tax expense.
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