Guoco Group Limited — Earnings Release 2004

Jul 22, 2004

Listed Company Information

Listed Company Information
FE HOTELS<00037> - Results Announcement Far East Hotels and Entertainment Limited announced on 22/7/2004: (stock code: 00037 ) Year end date: 31/3/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/4/2003 from 1/4/2002 to 31/3/2004 to 31/3/2003 Note ($ ) ($ ) Turnover : 52,724,890 76,353,502 Profit/(Loss) from Operations : 6,008,623 (8,215,135) Finance cost : (4,630,842) (5,339,219) Share of Profit/(Loss) of Associates : (12,623,490) 59,182,244 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (11,794,616) 38,427,691 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0241) 0.0786 -Diluted (in dollars) : (0.0241) 0.0786 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (11,794,616) 38,427,691 Final Dividend : Nil Nil per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 25/8/2004 to 27/8/2004 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Basis Of Preparation And Accounting Policies The accounting policies and methods of computation used in the preparation of these financial statements are consistent with those used in the Group's annual financial statements for the year ended 31 March 2003, except that the Group has adopted the revised Statement of Standard Accounting Practice 12 "Income Taxes" issued by the Hong Kong Society of Accountants which are effective for accounting periods commencing on or after 1 January 2003. As a result of this change in accounting policy, the Group's revaluation reserve at 1st April 2002 has been decreased by HK$11,934,000 and deficit at 1st April 2002 has been increased by HK$51,188,299. The Group's loss for the year has been decreased by HK$5,486,025 (2003: profit for the year increased by HK$163,547). 2. (Loss) Earnings Per Share (a) Basic (loss) earnings per share The calculation of basic (loss) earnings per share is based on the loss for the year of HK$11,794,616 (2003: profit of HK$38,427,691) and on 488,842,675 (2003: 488,842,675) ordinary shares in issue during the year. (b) Diluted (loss) earnings per share The computation of diluted (loss) earnings per share has not assumed the exercise of the outstanding share options of the Company since their exercise prices were greater than the average market price of shares for both years.