Melco International Development Limited — Earnings Release 2000

Nov 20, 2000

Listed Company Information

CROCODILE<0122> - Results Announcement Crocodile Garments Limited announced on 20/11/2000: (stock code: 122) Year end date: 31/7/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/8/1999 from 1/8/1998 to 31/7/2000 to 31/7/1999 Turnover : 727,522,000 651,984,000 Profit/(Loss) from Operations : (23,993,000) (186,551,000) Finance cost : (5,037,000) (8,418,000) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : (35,728,000) (196,345,000) % Change over Last Period : N/A EPS/(LPS)-Basic : (5.79 cents) (31.82 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (35,728,000) (196,345,000) Final Dividend per Share : NIL NIL (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Turnover Turnover represents the net invoiced value of goods supplied to customers after allowances for returns and discounts, rental income and revenue from restaurant operations. (2) Tax 2000 1999 HK$'000 HK$'000 Current year provision: Hong Kong 62 53 Outside Hong Kong 6,781 1,279 ------ ------ 6,843 1,332 Prior year under/(over)provision (145) 44 ------ ------ Tax charge for the year 6,698 1,376 ====== ====== Hong Kong profits tax has been provided at the rate of 16% (1999: 16%) on the estimated assessable profits arising in Hong Kong during the year. Taxes on profits assessable elsewhere have been calculated at the rates of tax prevailing in the countries in which the Group operates, based on existing legislation, interpretations and practices in respect thereof. (3) Movement in accumulated losses 2000 1999 HK$'000 HK$'000 Accumulated losses at beginning of year 167,869 61,422 Net loss for the year 35,728 196,345 Revaluation reserve released on disposal of fixed assets - (89,898) ------- -------- Accumulated losses at end of year 203,597 167,869 ======= ======= (4) Loss per share Loss per share is calculated based on the net loss attributable to shareholders of HK$35,728,000 (1999: HK$196,345,000) and the 617,127,130 (1999: 617,127,130) shares of the Company in issue throughout the year. Diluted loss per share for the years ended 31st July, 2000 and 1999 has not been calculated as no diluting events existed during these years. (5) Comparative figures Comparative figures have been restated to comply with requirements of the Revised Statement of Standard Accounting Practice No.1 "Presentation of Financial Statements" and No.2 "Net Profit or Loss for the Period, Fundemental Errors and Changes in Accounting Policies" issued by the Hong Kong Society of Accounts.