ICO Group Limited — Earnings Release 2003

Apr 27, 2004

Listed Company Information

Listed Company Information
JACKIN INT'L<00630> - Results Announcement (Summary) Jackin International Holdings Limited announced on 27/04/2004: (stock code: 00630 ) Year end date: 31/12/2003 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2003 from 01/01/2002 to 31/12/2003 to 31/12/2002 Note ('000 ) ('000 ) (Restated) Turnover : 321,275 379,759 Profit/(Loss) from Operations : 17,962 26,568 Finance cost : (11,397) (13,757) Share of Profit/(Loss) of Associates : 751 1,609 Share of Profit/(Loss) of Jointly Controlled Entities : 5,200 (320) Profit/(Loss) after Tax & MI : 12,061 16,439 % Change over Last Period : -26.6 % EPS/(LPS)-Basic (in dollars) : 0.0331 0.0459 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 12,061 16,439 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 (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Turnover Turnover represents the aggregate of the amounts received and receivable for goods sold and services rendered, net of returns and allowances, by the Group to outside customers. 2. Profit from Operations These amounts reflect the profit from operation before finance cost. 3. EPS - Basic The Calculation of basic profit per share for the year ended 31 December 2003 is based on the profit attributable to shareholders of HK$12,061,000 (2002: HK$16,439,000) and the weighted average number of 364,081,059 ordinary shares in issue during the year ended 31 December 2003 (2002: 358,494,000 ordinary shares) No diluted earnings per share has been presented as the exercise price of the Company's outstanding share options and convertible notes was higher than the average market price for both 2003 and 2002. The adjustment to comparative basic per share, arising from the changes in accounting policies is as follows: 2002 HK cents Reported figures before adjustment 4.63 Adjustments arising from the adoption of SSAP 12 (Revised) (0.04) -------- Restated 4.59 ======== 4. Adoption of New Accounting Standard The Group has adopted SSAP 12 (Revised) Income Taxes. The principal effect of the implementation of SSAP 12 (Revised) is in relation to deferred tax. In the absence of any specific transitional requirements in SSAP 12 (Revised), the new accounting policy has been applied retrospectively. Comparative amounts for 2002 have been restated accordingly. As a result of this change in policy, the balance of retained profits at 1 January 2002 has been increased by HK$1,031,000, representing the cumulative effect of the change in policy on the results for periods prior to 1 January 2002. The balance on the Group's properties revaluation reserve at 1 January 2002 has been decreased by HK$1,805,000, representing the deferred tax liability recognised in respect of the revaluation surplus on the Group's properties at that date. The change has resulted in a decrease in properties revaluation reserve of HK$70,000 for the year ended 31 December 2003 (2002: HK$155,000 decrease in the profit for the year ended 31 December 2002).