C&D Property Management Group Co., Ltd — Earnings Release 2004

Oct 26, 2004

Listed Company Information

Listed Company Information
GOOD FELLOW GP<00910> - Results Announcement Good Fellow Group Limited announced on 26/10/2004: (stock code: 00910 ) Year end date: 30/06/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/07/2003 from 01/07/2002 to 30/06/2004 to 30/06/2003 Note ('000 ) ('000 ) Turnover : 189,026 208,770 Profit/(Loss) from Operations : 23,189 44,290 Finance cost : (141) (193) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : 10,509 827 Profit/(Loss) after Tax & MI : 30,345 40,356 % Change over Last Period : -24.81 % EPS/(LPS)-Basic (in dollars) : 0.0127 0.0171 -Diluted (in dollars) : 0.0126 0.017 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 30,345 40,356 Final Dividend : 0.2 cent 0.2 cent per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 23/11/2004 to 30/11/2004bdi. Payable Date : 28/01/2005 B/C Dates for Annual General Meeting : 23/11/2004 to 30/11/2004bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. All turnover were derived from continuing operations. 2. All profits were derived from continuing operations. 3. EARNINGS PER SHARE The calculation of basic earnings per share is based on the Group's net profit attributable to shareholders for the year of approximately HK$30,345,000 (2003: HK$40,356,000) and the weighted average number of 2,393,347,677 (2003: 2,365,648,942) ordinary shares in issue during the year. The calculation of diluted earnings per share is based on the Group's net profit attributable to shareholders for the year of approximately HK$30,345,000 (2003: HK$40,356,000) and on 2,406,540,832 (2003: 2,370,654,962) ordinary shares, being the weighted average number of 2,393,347,677 (2003: 2,365,648,942) ordinary shares in issue during the year, as used in the basic earnings per share calculation, plus the weighted average of 13,193,155 (2003: 5,006,020) ordinary shares assumed to have been issued at no consideration on the deemed exercise of all share options and warrants outstanding during the year. 4. During the financial year ended 30 June 2004, the Company adopted the Statement of Standard Accounting Practice No. 12 ("SSAP" 12) (revised) issued by the Hong Kong Institute of Certified Public Accountants. In prior years, deferred tax liabilities were provided using the liability method in respect of the taxation effect arising from all material timing differences between the accounting and tax treatment of income and expenditure, which were expected with reasonably probability to crystallise in the foreseeable future. Deferred tax assets were not recognised unless their realisation was assured beyond reasonable doubt. With effect from this financial year, in order to comply with the new SSAP 12, the Group adopted a new policy for deferred taxation. Deferred taxation is provided in full, using the balance sheet liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Taxation rates enacted or substantively enacted by the balance sheet date are used to determine deferred taxation. Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. There are no material profit and loss effect as a result of the adoption of the revised SSAP12 during the year.