IGG Inc — Interim / Quarterly Report 2002

Dec 18, 2001

Listed Company Information

ORIENTAL WATCH<00398> - Results Announcement (Summary) Oriental Watch Holdings Limited announced on 18/12/2001: (stock code: 398) Year end date: 31/3/2002 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/4/2001 from 1/4/2000 to 30/9/2001 to 30/9/2000 ('000) ('000) Turnover : 846,757 744,374 Profit/(Loss) from Operations : 47,511 54,035 Finance cost : (499) (476) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 40,060 45,032 % Change over Last Period : -11.0% EPS/(LPS)-Basic : 14.55 cents 16.28 cents -Diluted : 14.28 cents 16.20 cents Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 40,060 45,032 Interim Dividend per Share : 2.5 cents 3 cents (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : 4/1/2002 to 9/1/2002 bdi. Payable Date : 16/1/2002 B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. General The Group is engaged in watch trading. Over 90% of its turnover and profit from operations are derived in Hong Kong. 2. Finance Costs Six months ended 30.9.2001 30.9.2000 HK$'000 HK$'000 Interest on bank borrowings wholly repayable with five years 487 464 Finance lease charges 12 12 ------ ----- 499 476 ====== ===== 3. Profit before taxation Six months ended 30.9.2001 30.9.2000 HK$'000 HK$'000 Profit before taxation has been arriving at after charging: Depreciation on: - owned assets 2,180 1,880 - assets held under a finance lease 20 20 ----- ----- 2,200 1,900 ===== ===== Unrealised loss on listed trading securities 272 380 and after crediting: Interest income 1,196 2,291 Rental income 1,828 1,406 Realised gain on sale of listed trading securities - 184 ===== ===== 4. Taxation Six months ended 30.9.2001 30.9.2000 HK$'000 HK$'000 The charge comprises: Hong Kong Profits Tax 8,102 9,784 Taxation outside Hong Kong 97 156 ----- ------ 8,199 9,940 Deferred taxation (21) - ----- ----- 8,178 9,940 ===== ===== 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 jurisdictions outside Hong Kong in which the Group operates. 5. Dividend On 18 December 2001, the directors resolved to declare an interim dividend of 2.5 cents per share, in respect of the six months ended 30 September 2001 (2000: 3 cents per share), totalling approximately HK$6,881,000 (2000: HK$8,270,000), to be paid in cash to those shareholders whose names appear on the Company's register of members on 9 January 2002. The dividend will be paid on or before 16 January 2002. 6. Earnings per share The calculations of the basic and diluted earnings per share are based on the following data: Six months ended 30.9.2001 30.9.2000 HK$'000 HK$'000 Earnings Profit for the period attributable to shareholders 40,060 45,032 ======= ====== Number of shares Weighted average number of shares for the purpose of calculating basic earnings per share 275,253,200 276,686,071 Potential dilutive shares issuable under the Company's share option scheme 5,295,547 1,325,153 ----------- ---------- Weighted average number of shares for the purpose of calculating diluted earnings per share 280,548,747 278,011,224 ============ ============