Matrix Holdings Limited — Earnings Release 1998

Apr 6, 2000

Listed Company Information

MATRIX HOLDINGS<1005> - Results Announcement Matrix Holdings Limited announced on 5/4/2000: (stock code: 1005) The accounts which contain the following results are qualified by the Company's auditor. For more details, please refer to the press announcement issued by the Company on 6/4/2000. Year end date: 31/12/1998 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/1/1998 from 1/1/1997 to 31/12/1998 to 31/12/1997 ('000) ('000) Turnover - Continuing : 285,474 428,232 - Discontinued : - - Operating Profit/(Loss) - Continuing : (311,076) 13,773 - Discontinued : - - Total Operating Profit/(Loss) : (311,076) 13,773 Share of Profit/(Loss) of Associated Companies : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (311,120) 11,167 % Change over Last Period : N/A EPS/(LPS)-Basic : (69.57 cents) 2.50 cents -Diluted : - 2.48 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (311,120) 11,167 Final Dividend per Share : Nil Nil (Specify if with other options) : - - B/C Dates for Final Dividend : - Payable Date : - B/C Dates for (-) General Meeting : - Other Distribution for Current Period : - B/C Dates for Other Distribution : - Remarks: (1) 1998 HK$'000 HK$'000 Total Operating Loss Operating Loss from continuing operation (86,020) Exceptional items: Write-off of tangible fixed assets (52,436) Revaluation deficit on investment property (1,428) Revaluation deficit on land and building (70,850) Write-off of inventories (90,360) Write-off of pre-operating expenses (8,146) Loss on deconsolidation of a subsidiary Upon commencement of liquidation 1,836 (225,056) ------------- ------------- (311,076) ========= (2) Adoption of Statements of Standard Accounting Practice: In the current year, the Group has adopted the following Statements of Standard Accounting Practice (SSAPs) issued by the Hong Kong Society of Accountants: SSAP 5 (Revised) Earnings Per Share SSAP 20 Related Party Disclosures SSAP 22 Inventories The adoption of SSAP 5 (Revised) has resulted in some modifications to the the basis of calculation of earnings per share amounts and to the disclosures presented for earnings per share. Amounts presented for the prior year have been restated to reflect the requirements of SSAP 5 (Revised). SSAP 20 requires the disclosure of details of transactions and balances with specified related parties. The adoption of SSAP 22 has resulted in some changes in terminology and presentation, but does not have any effect on the results for the current or prior accounting periods. For more details, please refer to the press announcement today.