IGG Inc — Interim / Quarterly Report 2006

Dec 15, 2005

Listed Company Information

Listed Company Information
ORIENTAL WATCH<00398> - Results Announcement ORIENTAL WATCH HOLDINGS LIMITED announced on 15/12/2005: (stock code: 00398 ) Year end date: 31/03/2006 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/04/2005 from 01/04/2004 to 30/09/2005 to 30/09/2004 Note ('000 ) ('000 ) Turnover : 921,336 753,298 Profit/(Loss) from Operations : 45,108 38,676 Finance cost : (2,430) (946) 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 : 33,878 30,237 % Change over Last Period : +12.04 % EPS/(LPS)-Basic (in dollars) : 0.1231 0.1099 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 33,878 30,237 Interim Dividend : 2.5 cents 2.0 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 06/01/2006 to 11/01/2006 bdi. Payable Date : 18/01/2006 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 2005 2004 HK$'000 HK$'000 Hong Kong Profits Tax calculated at 17.5% on the estimated assessable profit for the period (7,797) (6,824) PRC income tax (1,003) (669) _______ ________ (8,800) (7,493) ======= ======= 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 2005, a final dividend of 4.5 Hong Kong cents per share, totaling HK$12,386,000, in respect of the year ended 31 March 2005 (2004: HK$11,010,000) was approved at the annual general meeting held on 31 August 2005 and subsequently paid to the shareholders. On 15 December 2005, the directors resolved to declare an interim dividend of 2.5 Hong Kong cents per share in respect of the six months ended 30 September 2005 (2004: 2.0 Hong Kong cents per share), totaling approximately HK$6,881,000 (2004: 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 2006. The dividend will be paid on or before 18 January 2006. 3. Earnings per share The calculation of the basic earnings per share is based on the profit attributable to equity holders of the Company of HK$33,878,000 (2004: HK$ 30,237,000) and the number of 275,253,200 (2004: 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. 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. Turnover Results Six months ended Six months ended 30 September 30 September 2005 2004 2005 2004 HK$'000 HK$'000 HK$'000 HK$'000 Hong Kong 770,214 704,603 38,029 32,982 Mainland China 187,132 133,509 7,164 5,593 Inter-segment sales elimination (36,010) (84,814) - - ____________ ___________ ___________ __________ 921,336 753,298 45,193 38,575 ======== ======= ======= ======= Unallocated other income - 101 Unallocated corporate expenses 85 - Finance cost (2,430) (946) _________ _______ Profit before taxation 42,678 37,730 Taxation (8,800) (7,493) ___________ ___________ Profit for the period attributable to Equity holders of the Company 33,878 30,237 ========= =========