IGG Inc — Earnings Release 2000

Aug 16, 2000

Listed Company Information

ORIENTAL WATCH<0398> - Results Announcement Oriental Watch Holdings Limited announced on 16/8/2000: (stock code: 398) Year end date: 31/3/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 1,527,847 1,250,763 - Discontinued : - - Operating Profit/(Loss) - Continuing : 120,531 36,355 - Discontinued : - - Total Operating Profit/(Loss) : 120,531 36,355 Share of Profit/(Loss) of Associated Companies : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 104,865 31,895 % Change over Last Period : +229% EPS/(LPS)-Basic : 37.9 cents 11.5 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 104,865 31,895 Final Dividend per Share : 6 cents 3 cents (Specify if with other options) : - - B/C Dates for Final Dividend : 15/9/2000 to 20/9/2000 bdi. Payable Date : 18/10/2000 B/C Dates for (-) General Meeting : - Other Distribution for Current Period : N/A B/C Dates for Other Distribution : - Remarks: (1) Taxation 2000 1999 HK$'000 HK$'000 The charge comprises: Hong Kong Profits Tax charge for the year 21,585 7,530 overprovision in prior years (107) (450) -------- -------- 21,478 7,080 Taxation outside Hong Kong 329 345 Deferred taxation (133) 105 -------- -------- 21,674 7,530 ======== ======== Hong Kong Profits Tax is calculated at 16% on the estimated assessable profits of the Group which are derived from Hong Kong. Taxation outside Hong Kong is calculated at the rate prevailing in the respective jurisdiction outside Hong Kong in which the Group operates. (2) Dividends 2000 1999 HK$'000 HK$'000 Proposed final dividend of 6 cents (1999: 3 cents) per share 16,606 8,303 Interim dividend paid of 2 cents (1999: 0.8 cents) per share 5,535 2,214 -------- -------- 22,141 10,517 ======== ======== (3) Earnings per share The calculation of basic earnings per share is based on the profit for the year attributable to shareholders of HK$104,865,000 (1999: HK$31,895,000) and on the 276,759,200 shares in issue during the year (1999: weighted average of 276,837,063 shares). No diluted earnings per share is presented for 1999 or 2000 as the effect of the Company's outstanding share options is anti-dilutive.