IGG Inc — Interim / Quarterly Report 2004

Dec 16, 2003

Listed Company Information

ORIENTAL WATCH<00398> - Results Announcement ORIENTAL WATCH HOLDINGS LIMITED announced on 16/12/2003: (stock code: 00398 ) Year end date: 31/3/2004 Currency: HKD Auditors' Report: N/A Review of Interim Report by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/4/2003 from 1/4/2002 to 30/9/2003 to 30/9/2002 Note ('000 ) ('000 ) Turnover : 748,761 876,404 Profit/(Loss) from Operations : 35,615 43,503 Finance cost : (620) (783) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 29,100 35,463 % Change over Last Period : -17.9 % EPS/(LPS)-Basic (in dollars) : 0.1057 0.1288 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 29,100 35,463 Interim Dividend : 2.0 cents 2.0 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 6/1/2004 to 9/1/2004 bdi. Payable Date : 15/1/2004 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. Taxation Six months ended 30 September 2003 2002 ` HK$'000 HK$'000 Hong Kong Profits Tax calculated at 17.5% (2002: 16%) on the estimated assessable profit for the period 5,947 7,070 Mainland China (the "PRC") income tax 203 207 ----------- --------- 6,150 7,277 Deferred taxation 255 20 -------------- --------- 5,895 7,257 ========== ======= The PRC income tax is calculated at the applicable rates pursuant to the relevant laws and regulations in the PRC. 2. Dividend During the six months ended 30 September 2003, a final dividend of 3.5 Hong Kong cents per share, totaling HK$9,634,000, in respect of the year ended 31 March 2003 was approved at the annual general meeting held on 28 August 2003 and subsequently paid to the shareholders. On 16 December 2003, the directors resolved to declare an interim dividend of 2.0 Hong Kong cents per share in respect of the six months ended 30 September 2003 (2002: 2.0 Hong Kong cents per share), totaling approximately HK$5,505,000 (2002: HK$5,505,000) to be paid in cash to those shareholders, whose names appear on the Company's register of members on 9 January 2004. 3. Earnings per share The calculation of the basic earnings per share is based on the net profit attributable to shareholders of HK$29,100,000 (2002: HK$35,463,000) and number of 275,253,200 (2002: 275,253,200) shares in issue during the period. 4. Segment Information The Group's operation is regarded as a single segment, being an enterprise engaged in watch trading. The following is an analysis of the Group's geographical segment information: Profit Turnover from operations Six months ended Six months ended 30 September 30 September 2003 2002 2003 2002 HK$'000 HK$'000 HK$'000 HK$'000 Hong Kong 658,630 802,718 35,372 42,718 PRC 90,131 73,686 243 785 --------- --------- -------- ------- 748,761 876,404 35,615 43,503 ==================================================