Road King Infrastructure Limited — Earnings Release 2005

Jul 29, 2005

Listed Company Information

Listed Company Information
ROAD KING INFRA<01098> - Results Announcement Road King Infrastructure Limited announced on 29/07/2005: (stock code: 01098 ) Year end date: 31/12/2005 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Both Audit Committee and Auditors (Adjusted) (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2005 from 01/01/2004 to 30/06/2005 to 30/06/2004 Note ('000 ) ('000 ) Turnover : 35,093 26,810 Profit/(Loss) from Operations : (11,948) (27,342) Finance cost : (57,090) (35,414) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit of Infrastructure Joint Ventures : 266,032 238,706 Profit/(Loss) after Tax & MI : 205,860 178,138 % Change over Last Period : +15.56 % EPS/(LPS)-Basic (in dollars) : 0.35 0.30 -Diluted (in dollars) : 0.35 0.30 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 205,860 178,138 Interim Dividend : 17 Cents 16 Cents per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : 16/08/2005 to 19/08/2005 bdi. Payable Date : 31/08/2005 B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: Appendix 1 Reconciliation of Change of Figures for Last Corresponding Period In the current period, the Group has applied, for the first time, a number of new Hong Kong Financial Reporting Standards (HKFRSs), Hong Kong Accounting Standards (HKASs) and Interpretations (hereinafter collectively referred to as "new HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants that are effective for accounting periods beginning on or after 1 January 2005. The application of the new HKFRSs has resulted in a change in the presentation of the income statement, balance sheet and the statement of changes in equity. In particular, the presentation of minority interests and share of tax of jointly controlled entities have been changed. The changes in presentation have been applied retrospectively. A reconciliation of last corresponding period from 1 January to 30 June 2004 is set out below: Share of operating profit of infrastructure joint ventures HK$'000 Per last period's figures 259,738 Adjustment due to adoption of new HKFRSs: Current tax (17,132) Deferred taxation (3,900) ----------- Per current period's figures 238,706 ========== The adjustment was due to a reclassification of share of taxation attributable to PRC infrastructure joint ventures from "Taxation" to " Share of operating profit of infrastructure joint ventures" in the the consolidated income statement of the Group. Appendix 2 Earnings per share The calculation of the basic and diluted earnings per share is based on the following data: Six months ended 30 June 2005 2004 HK$'000 HK$'000 Earnings for the purposes of basic and diluted earnings per share 205,860 178,138 ======== ======== Six months ended 30 June 2005 2004 Number of Number of shares shares Weighted average number of ordinary shares for the purpose of basic earnings per share 586,954,000 584,512,000 Effect of dilutive potential ordinary shares: Share options 926,000 1,514,000 ------------ ----------- Weighted average number of ordinary shares for the purpose of diluted earnings per share 587,880,000 586,026,000 ============================