CWT International Limited — Earnings Release 2000

Jun 15, 2000

Listed Company Information

WAH TAK FUNG<0297> - Results Announcement Wah Tak Fung Holdings Limited announced on 15/6/2000: (stock code: 297) Year end date: 31/3/2000 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 776,690 499,383 - Discontinued : N/A N/A Operating Profit/(Loss) - Continuing : 99,568 (305,243) - Discontinued : - - Total Operating Profit/(Loss) : 99,568 (305,243) Share of Profit/(Loss) of Associated Companies : 2,997 541 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 29,274 (558,335) % Change over Last Period : N/A EPS/(LPS)-Basic : 3.7 cents (80.9 cents) -Diluted : 3.6 cents N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 29,274 (558,335) Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Earnings (loss) Per Share The calculation of the basic and diluted earnings (loss) per share is based on the following data: Earnings 2000 1999 HK$'000 HK$'000 Earnings for the purposes of basic earnings (loss) per share (net profit (loss) for the year) 29,274 (558,335) ======== Effect of dilutive potential ordinary shares: Interest on debentures 45 N/A -------------- ====== Earnings for the purposes of diluted earnings per share 29,319 ======== Number of shares 2000 1999 ('000) ('000) Weighted average number of shares for the purposes of basic earnings per share 788,695 690,000 ======= Effect of dilutive potential shares: Share options 10,809 Debentures 22,377 N/A ---------- ======= Weighted average number of shares for the purposes of diluted earnings per share 821,881 ========= (2) Adoption of Statements of Standard Accounting Practice In the current year, the Company adopted the following Statements of Standard Accounting Practice ("SSAPs") issued by the Hong Kong Society of Accountants: SSAP 1 (Revised) Presentation of financial statements SSAP 2 (Revised) Net profit or loss for the period, fundamental errors and changes in accounting policies The revised SSAPs 1 and 2 are concerned with the presentation and disclosure of financial information. The presentation in the current year's financial statements has been modified in order to conform with the requirements of the revised SSAPs. Comparative amounts have been restated in order to achieve a consistent presentation. In addition, the description of various components in the financial statements and the terminology used has been updated to reflect the terminology of the SSAPs. None of the amendments has affected the results for the current or prior years.