Kerry Properties Limited — Earnings Release 2005

Mar 24, 2006

Listed Company Information

Listed Company Information
KERRY PPT<00683> - Results Announcement Kerry Properties Limited announced on 24/03/2006: (stock code: 00683 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 31/12/2005 to 31/12/2004 Note ('000 ) ('000 ) Turnover : 8,008,824 5,102,442 Profit/(Loss) from Operations : 3,447,852 1,877,731 Finance cost : (201,679) (145,119) Share of Profit/(Loss) of Associates : 510,105 555,503 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 3,066,863 2,271,133 % Change over Last Period : +35 % EPS/(LPS)-Basic (in dollars) : 2.53 1.90 -Diluted (in dollars) : 2.43 1.89 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 3,066,863 2,271,133 Final Dividend : 50 cents 40 cents per Share (Specify if with other : Scrip alternative Scrip alternative options) B/C Dates for Final Dividend : 28/04/2006 to 03/05/2006 bdi. Payable Date : 09/06/2006 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) The 2005 audited accounts reflect the adoption of the new/revised Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards issued by the Hong Kong Institute of Certified Public Accountants which became effective for accounting periods beginning on or after 1 January 2005. The comparative income statement for the year ended 31 December 2004 has been restated. 2) The most significant impact of the change in accounting standards on the Group is the adoption of fair value model for the Group's investment properties. Set out below are the effects on the Group's net profit attributable to shareholders for the year ended 31 December 2005 as a result of adopting the fair value model in relation to the Group's investment properties:- Year ended 31 December 2005 2004 Increase HK$ million HK$ million Profit attributable to shareholders before taking into account the net change in fair values / revaluation surplus of investment properties and related tax effects 1,759 1,580 11% Add: Net change in fair values / revaluation surplus of investment properties and related tax effects 1,308 691 -------- --------- Profit attributable to shareholders 3,067 2,271 35% ======== ========= 3) Basic earnings per share is calculated by dividing the profit attributable to shareholders of the Company by the weighted average number of shares in issue during the year. Year ended 31 December 2005 2004 Weighted average number of shares in issue 1,213,558,181 1,198,224,808 ============= ============== HK$'000 HK$'000 Profit attributable to shareholders 3,066,863 2,271,133 ============= ============== Basic earnings per share HK$2.53 HK$1.90 ============= ============== Diluted earnings per share is calculated by adjusting the profit attributable to shareholders of the Company and the weighted average number of shares outstanding for the effects of all dilutive potential shares. Year ended 31 December 2005 2004 Weighted average number of shares in issue 1,213,558,181 1,198,224,808 Adjustment for convertible bonds 70,723,038 - Adjustment for share options 7,060,260 4,382,608 -------------- --------------- Weighted average number of shares for calculation of diluted earnings per share 1,291,341,479 1,202,607,416 ============== =============== HK$'000 HK$'000 Profit attributable to shareholders 3,066,863 2,271,133 Adjustment for finance cost on convertible bonds 65,435 - -------------- --------------- Profit used to determine diluted earnings per share 3,132,298 2,271,133 ============== =============== Diluted earnings per share HK$2.43 HK$1.89 ============== ===============