ISP Holdings Limited — Earnings Release 2005

Jun 3, 2005

Listed Company Information

Listed Company Information
SYNERGIS HOLD<02340> - Results Announcement Synergis Holdings Limited announced on 03/06/2005: (stock code: 02340 ) Year end date: 31/03/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2004 from 01/04/2003 to 31/03/2005 to 31/03/2004 Note ('000 ) ('000 ) Turnover : 382,445 387,969 Profit/(Loss) from Operations : 30,810 38,757 Finance cost : (13) (664) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : (166) (773) Profit/(Loss) after Tax & MI : 25,837 31,611 % Change over Last Period : -18.3 % EPS/(LPS)-Basic (in dollars) : 0.078 0.111 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 25,837 31,611 Final Dividend : 4.0 CENTS 3.0 CENTS per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 25/07/2005 to 28/07/2005 bdi. Payable Date : 04/08/2005 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. BASIS OF PREPARATION The accounts have been prepared in accordance with accounting principles generally accepted in Hong Kong and comply with accounting standards issued by the Hong Kong Institute of Certified Public Accountants (" HKICPA"). They have been prepared under the historical cost convention except that investment properties and other investments are stated at fair value. The HKICPA has issued a number of new and revised Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards ("new HKFRSs") which are effective for accounting periods beginning on or after 1 January 2005. The Group has not early adopted these new HKFRSs in the financial statements for the year ended 31st March 2005. The Group has already commenced an assessment of the impact of these new HKFRSs but is not yet in a position to state whether these new HKFRSs would have a significant impact on its results of operations and financial position. 2 TURNOVER AND OTHER REVENUES The Group is principally engaged in the provision of property management and facility management services, security services, cleaning services, laundry services, repair and maintenance works and trading of related products. Revenues recognised during the year are as follows: 2005 2004 HK$'000 HK$'000 Turnover Property management and facility management services 337,929 349,309 Security services 10,865 10,957 Cleaning services 9,481 7,955 Laundry services 2,123 2,050 Repair and maintenance works 17,436 13,894 Trading of related products 4,611 3,804 ------- --------- 382,445 387,969 ------- --------- Other revenues Copying services 702 637 Rental income 184 179 Membership programmes 180 - Dividend income from other investments - 144 Interest income on bank deposits and other investments 508 505 Support service income from a related company - 200 Net unrealised gain on other investments - 420 Gain on disposal of other investments 82 1,396 Miscellaneous income 1,277 761 ------- --------- 2,933 4,242 ------- --------- 385,378 392,211 ======= ========= 3. OPERATING PROFIT Operating profit is stated after crediting and charging the following: 2005 2004 HK$'000 HK$'000 Crediting Net exchange gain - 167 Net unrealised gain on other investments - 420 Gain on disposal of other investments 82 1,396 Write back of provision for retirement benefit costs - 5,228 ======= ======= Charging Staff costs, including directors' emoluments 284,935 249,838 Depreciation 4,053 2,826 Auditors' remuneration 627 581 Loss on disposal of fixed assets 160 15 Provision for doubtful debts 297 8 Costs of brand-building program - 4,284 Operating lease rental on land and buildings 3,287 3,151 ======= ======= 4. EARNINGS PER SHARE The calculation of basic earnings per share is based on the Group's profit attributable to shareholders of HK$25,837,000 (2004: HK$31,611,000) and the weighted average number of ordinary shares of 332,000,000 in issue during the year (2004: 284,362,000). No diluted earnings per share for the year ended 31st March 2005 is presented because there were no dilutive potential ordinary shares outstanding during the year (2004: Nil).