Glorious Sun Enterprises Limited — Earnings Release 2002

Apr 17, 2003

Listed Company Information

GLORIOUS SUN<00393> - Results Announcement (Summary) Glorious Sun Enterprises Limited announced on 17/04/2003: (stock code: 00393 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) 9-month 12-month Period Period from 01/04/2002 from 01/04/2001 to 31/12/2002 to 31/03/2002 Note ('000 ) ('000 ) Turnover : 2,436,567 2,924,850 Profit/(Loss) from Operations : 231,639 266,699 Finance cost : (15,723) (31,691) Share of Profit/(Loss) of Associates : 23,376 27,609 Share of Profit/(Loss) of Jointly Controlled Entities : 2,344 4,720 Profit/(Loss) after Tax & MI : 128,080 152,765 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : 0.128 0.1527 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 128,080 152,765 Final Dividend : 7.50 cents 7.50 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 30/05/2003 to 05/06/2003bdi. Payable Date : 12/06/2003 B/C Dates for Annual General Meeting : 30/05/2003 to 05/06/2003bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Earnings per share (a) Basic earnings per share The calculation of basic earnings per share is based on the net profit attributable to shareholders for the period of HK$128,080,000 (year ended 31 March 2002: HK$152,765,000) and 1,000,584,000 (year ended 31 March 2002: 1,000,584,000) shares in issue during the period. (b) Diluted earnings per share As the subscription prices of the share options outstanding during the period ended 31 December 2002 and year ended 31 March 2002 are higher than the respective average market price of the Company's shares during the period ended 31 December 2002 and year ended 31 March 2002, there is no dilution effect on the basic earnings per share. 2. Loss on disposal of subsidiary Included in the profit from operating activities is a loss of HK$1,541,000 on disposal of the entire interests in Jeanswest Corporation (New Zealand) Limited, which was engaged in the retailing of casual wear in New Zealand. 3. Change of accounting year end date As announced on 3 December 2002, the directors of the Company have resolved to change the Company's accounting year end date from 31 March to 31 December. Accordingly the consolidated profit and loss account and related notes covered a nine-month period from 1 April 2002 to 31 December 2002 which may not be comparable with the comparative figures for the year ended 31 March 2002.