Guoco Group Limited — Earnings Release 2006

Jul 18, 2006

Listed Company Information

Listed Company Information
FE HOTELS<00037> - Results Announcement Far East Hotels and Entertainment Limited announced on 18/07/2006: (stock code: 00037 ) Year end date: 31/03/2006 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2005 from 01/04/2004 to 31/03/2006 to 31/03/2005 Note ($ ) ($ ) Turnover : 63,528,819 30,179,999 Profit/(Loss) from Operations : (54,746,853) (6,418,702) Finance cost : (2,078,339) (3,908,175) Share of Profit/(Loss) of Associates : (13,685,451) 13,929,605 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (70,510,642) 3,490,301 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.1442) 0.0071 -Diluted (in dollars) : N/A 0.0071 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (70,510,642) 3,490,301 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 : 22/08/2006 to 24/08/2006 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Application of Hong Kong Financial Reporting Standards/Changes in Accounting Policies In the current year, the Group and the Company has applied, for the first time, a number of new Hong Kong Financial Reporting Standards ("HKFRSs"), Hong Kong Accounting Standards ("HKASs") and Interpretations ("INTs") ( hereinafter collectively referred to as "new HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") that are effective for accounting periods beginning on or after 1st January, 2005. The application of the new HKFRSs has resulted in a change in the presentation of the consolidated income statement, consolidated balance sheet and consolidated statement of changes in equity. In particular, the presentation of minority interests and share of tax of associates have been changed. The changes in presentation have been applied retrospectively. Comparative figures have been restated. 2. (Loss) Earnings Per Share The calculation of basic (loss) earnings per share is based on the loss for the year of HK$70,510,642 (2005: profit of HK$3,490,301 as restated) and 488,842,675 (2005:488,842,675) ordinary shares in issue during the year. No diluted loss per share is presented as the exercise of the potential dilutive ordinary shares would result in a reduction in loss per share in year 2006. The computation of diluted 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 the year 2005. The following table summaries the impact on basic (loss) earnings per share as a result of the application of the new HKFRSs: 2006 2005 HK cents HK cents Figures before adjustment (13.60) 1.80 Adjustment arising from changes in accounting policies (0.82) (1.09) ------------------------ As reported/restated (14.42) 0.71 ======================