IGG Inc — Interim / Quarterly Report 2005

Dec 15, 2004

Listed Company Information

Listed Company Information
ORIENTAL WATCH<00398> - Results Announcement ORIENTAL WATCH HOLDINGS LIMITED announced on 15/12/2004: (stock code: 00398 ) Year end date: 31/3/2005 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 1/4/2004 from 1/4/2003 to 30/9/2004 to 30/9/2003 Note ('000 ) ('000 ) Turnover : 753,298 748,761 Profit/(Loss) from Operations : 38,676 35,615 Finance cost : (946) (620) 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 : 30,237 29,100 % Change over Last Period : +3.91 % EPS/(LPS)-Basic (in dollars) : 0.1099 0.1057 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 30,237 29,100 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 : 6/1/2005 to 11/1/2005 bdi. Payable Date : 18/1/2005 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 2004 2003 HK$'000 HK$'000 Hong Kong Profits Tax calculated at 17.5% on the estimated assessable profit for the period (6,824) (5,947) PRC income tax (669) (203) -------------- ---------- (7,493) (6,150) Deferred taxation - 255 --------------- ---------- (7,493) 5,895 ============== ========= The PRC income tax is calculated at the applicable rates pursuant to relevant laws and regulations in the PRC. 2. Dividend During the six months ended 30 September 2004, a final dividend of 4.0 Hong Kong cents per share, totaling HK$11,010,000, in respect of the year ended 31 March 2004 was approved at the annual general meeting held on 25 August 2004 and subsequently paid to the shareholders. On 15 December 2004, 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 2004 (2003: 2.0 Hong Kong cents per share), totaling approximately HK$5,505,000 (2003: HK$5,505,000) to be paid in cash to those shareholders, whose names appear on the Company's register of members on 11 January 2005. The dividend will be paid on or before 18 January 2005. 3. Earnings per share The calculation of the basic earnings per share is based on the net profit attributable to shareholders of HK$30,237,000 (2003: HK$29,100,000) and the number of 275,253,200 (2003: 275,253,200) shares in issue during the period. No diluted earnings per share has been presented as the exercise price of the Company's share option was higher than the average market price of the Company's share during the period. There were no potential ordinary shares outstanding during the prior period. 4. Segment Information The Group's operation is regarded as a single segment, being an enterprise engaged in watch trading. The following is an analysis of the Group's geographical segment information. Profits Turnover from operations Six months ended Six months ended 30 September 30 September 2004 2003 2004 2003 HK$'000 HK$'000 HK$'000 HK$'000 Hong Kong 626,044 658,630 32,366 35,372 Mainland China 127,254 90,131 6,310 243 ----------------------------------------------------- 753,298 748,761 38,676 35,615 =====================================================