Esprit Holdings Limited — Earnings Release 2000

Sep 4, 2000

Listed Company Information

GRANDE HOLDINGS<0186> - Results Announcement The Grande Holdings Limited announced on 1/9/2000: (stock codes: Ord: 186 & War: 906) Year end date: 31/12/2000 Currency: HKD (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/1/2000 from 1/1/1999 to 30/6/2000 to 30/6/1999 ('Million) ('Million) Turnover - Continuing : 3,001 1,554 - Discontinued : - - Operating Profit/(Loss) - Continuing : 639 214 - Discontinued : - - Total Operating Profit/(Loss) : 639 214 Share of Profit/(Loss) of Associated Companies : (266) (32) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 151 93 % Change over Last Period : +62.4% EPS/(LPS)-Basic : $0.52 $0.36 -Diluted : $0.51 N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 151 93 Interim Dividend per Share : 12 cents 8 cents (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : 20/9/2000 to 22/9/2000 bdi. Payable Date : 5/10/2000 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) Basic earnings per share is calculated on the profit of HK$151 million (1999 - HK$93 million) and the weighted average of approximately 290 million shares (1999 - 261 million shares) in issue during the period. Diluted earnings per share is calculated on the profit of HK$151 million and the weighted average of approximately 293 million shares outstanding during the period. On October 15, 1997, the Company issued warrants exercisable up to October 15, 2000. The diluted earnings per share had not been presented in last year as the exercise price of the outstanding warrants of the Company was greater than the prevailing market price of the Company's shares during the six-month period ended June 30, 1999. Reconciliation for weighted average number of shares - 30 June 2000 30 June 1999 Million shares Million shares Weighted average number of shares used in calculating basic earnings per share 290 Deemed issued of shares 3 ----- Weighted average number of shares used in calculating diluted earnings per share 293 N/A ===== (2) Restatement of the turnover, share of loss of associated companies and minority interests - Based on the Group's attributable 39% equity interest in Capetronic Consumer Electronics Holdings Berhad ("CCE") and its subsidiaries (the "CCE Group"), the companies comprising the CCE Group were previously treated as associated companies and were accounted for under the equity method of accounting for the period from August 1997 to June 1999. Having regard to an agreement dated 10 August 1997 entered into between the Group and an unrelated substantial shareholder of CCE, the management of the Group had, in fact, legal control over sufficient voting power to be in a position to control the composition of the board of directors. Moreover, the Group has demonstrated that it is able to control the financial and operating policies of the CCE Group throughout the period from August 1997 to June 1999. Accordingly, the directors are of the opinion that CCE should have been regarded as a subsidiary of the Company. The consolidated turnover, share of loss of associated companies and minority interests for the period ended 30 June 1999 have been restated to reflect this reclassification accordingly. (3) The exceptional items and finance cost in the corresponding period of 1999 are reclassified in accordance to SSAP1 for presentation. (4) Certain of the comparative figures for 1999 were reclassified. For more details, please refer to the press announcement today.