Dragon Mining Limited — Earnings Release 2004

Jul 19, 2004

Listed Company Information

Listed Company Information
SAMSON PAPER<00731> - Results Announcement Samson Paper Holdings Limited announced on 19/7/2004: (stock code: 00731 ) Year end date: 31/3/2004 Currency: HKD Auditors' Report: Unqualified (Restated) (Audited ) (Audited ) Last Current Corresponding Period Period from 1/4/2003 from 1/4/2002 to 31/3/2004 to 31/3/2003 Note ('000 ) ('000 ) Turnover : 2,644,619 2,512,363 Profit/(Loss) from Operations : 96,127 88,239 Finance cost : (32,352) (39,428) Share of Profit/(Loss) of Associates : 402 146 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 52,781 39,823 % Change over Last Period : +32.5 % EPS/(LPS)-Basic (in dollars) : 0.123 0.093 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 52,781 39,823 Final Dividend : 3.0 CENTS 2.0 CENTS per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 31/8/2004 to 6/9/2004 bdi. Payable Date : 13/9/2004 B/C Dates for Annual General Meeting : 31/8/2004 to 6/9/2004 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: - Principal accounting policies In the current year, the Group adopted Statement of Standard Accounting Practice ("SSAP") 12 (revised) "Income Taxes" issued by the HKSA which is effective for accounting period commencing on or after 1 January 2003. The adoption of the revised SSAP 12 represents a change in accounting policy, which has been applied retrospectively so that the comparatives presented have been restated to conform to the changed policy. As a result of the change, the opening reserves at 1 April 2002 and 2003 have been decreased by HK$5,249,000 and HK$6,386,000, respectively, which represent the unprovided net deferred tax liabilities. This change has resulted in an increase in deferred tax assets and deferred tax liabilities at 31 March 2003 by HK$1,629,000 and HK$6,178,000, respectively. The profit and amount charged to equity for the year ended 31 March 2003 have been increased by HK$700,000 and decreased by HK$10,700,000, respectively. In this connection, the comparative figures for 2003 of the following items have been restated as follows : - Items 2003 In HK$'000 - Profit / (Loss) after Taxation & MI 39,823 - Profit / (Loss) after ETD Items 39,823 In Cents - Basic EPS 9.3 - The basis of calculation for basic EPS for the current period The calculation of earnings per share is based on the audited consolidated profit attributable to shareholders of the Company of HK$52,781,000 and on the weighted average number of 429,258,039 shares of the Company in issue during the year.