Guoco Group Limited — Earnings Release 1999

Aug 16, 1999

Listed Company Information

FE HOTELS<0037> - Results Announcement Far East Hotels & Entertainment Limited announced on 16/8/1999: (stock code: 37) Year end date: 31/3/1999 Currency: HKD Last Current Corresponding Period Period from 1/4/1998 from 1/4/1997 to 31/3/1999 to 31/3/1998 Turnover/Interest Income : 37,240,075 49,725,130 Profit-Continuing Operations - Operating Profit/(Loss) : (6,100,766) (15,888,189) - Exceptional Items : (2,716,466) 25,696,211 - Discontinued Operations : Nil Nil Total Operating Profit/(Loss) : (8,817,232) 9,808,022 Share of Profit/(Loss) of Associated Companies : (2,211,440) (5,594,162) Profit/(Loss) after Tax & MI : (9,346,757) 5,593,152 % Change over Last Period : N/A EPS/(LPS)-Basic : (1.91 cents) 1.13 cents -Diluted : N/A 1.12 cents Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : (9,346,757) 5,593,152 Final Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 20/9/1999 to 24/9/1999 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. Exceptional items 1999 1998 HK$ HK$ Deficit arising on revaluation of hotel property (2,006,902) (1,607,465) Deficit arising on revaluation of investment properties (709,564) - Ex-gratia payment received from Hong Kong Housing Authority on surrender of land - 44,912,743 Loss on disposal of land and buildings, after deducting compensations paid - (21,438,374) Profit on disposal of investment properties - 2,212,040 Profit on strike off of subsidiaries - 1,617,267 ----------- ----------- (2,716,466) 25,696,211 ============ =========== 2. Diluted (loss)/earnings per share Because the conversion prices of the convertible bonds and exercise prices of the outstanding share options of the Company were greater than the average market price of the Company during the year, no diluted loss per share is calculated for the year ended 31st March 1999. The calculation of diluted earnings per share for the year ended 31st March, 1998 is based on the Group's profit attributable to shareholders of HK$5,593,152 and on the weighted average number of 501,052,738 ordinary shares issued and issuable after adjusting for the weighted average number of 4,440,411 potential dilutive ordinary shares assumed to be issued on the exercise of outstanding dilutive share options during the year.