Road King Infrastructure Limited — Earnings Release 2004

Apr 1, 2005

Listed Company Information

Listed Company Information
ROAD KING INFRA<01098> - Results Announcement (Summary) Road King Infrastructure Limited announced on 01/04/2005: (stock code: 01098 ) Year end date: 31/12/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Restated) (Audited ) Last Current Corresponding Period Period from 01/01/2004 from 01/01/2003 to 31/12/2004 to 31/12/2003 Note ('000 ) ('000 ) Turnover : 48,299 119,344 Profit/(Loss) from Operations : (49,933) 3,717 Finance cost : (102,604) (65,933) Share of Profit/(Loss) of Associates : N/A N/A Share of Operating Profit of Joint Ventures : 559,615 432,750 Profit/(Loss) after Tax & MI : 368,803 322,665 % Change over Last Period : +14.3 % EPS/(LPS)-Basic (in dollars) : 0.63 0.56 -Diluted (in dollars) : 0.63 0.56 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 368,803 322,665 Final Dividend : $0.18 $0.10 per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 10/05/2005 to 13/05/2005 bdi. Payable Date : 25/05/2005 B/C Dates for Annual General Meeting : 10/05/2005 to 13/05/2005 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Reconciliation of Change of Figures for Last Corresponding Period In the current period, the Group has adopted SSAP 36 "Agriculture" which is effective for accounting periods commencing on or after 1 January 2004. SSAP 36 requires the measurement of biological assets and agriculture produce at their fair value. As a result of adoption of this standard, the comparative figures have been restated. A reconciliation of last corresponding period from 1 January to 31 December 2003 is set out below: Profit (Loss) Profit after Profit after from Taxation ETD Operations & MI Items HK$'000 HK$'000 HK$'000 Per last year's figures (514) 318,328 318,328 Adjustment due to adoption of SSAP 36: Cost of inventories sold (33,717) (33,717) (33,717) Change in fair value of inventories 37,948 37,948 37,948 Deferred taxation (1,481) (1,481) Increase in minority interests 1,587 1,587 ---------- ----------- ------------ Per current year's figure 3,717 322,665 322,665 ========== =========== ============ 2. Earnings per share The calculation of the basic and diluted earnings per share is based on the following data: 2004 2003 HK$'000 HK$'000 Profit for the year 368,803 322,665 Convertible preference shares dividend - (14,013) ------------------------ Earnings for the purposes of basic and diluted earnings per share 368,803 308,652 ======================== Weighted average number of ordinary shares for the purpose of basic earnings per share 585,191,000 551,738,000 Effect of dilutive potential ordinary shares: Share options 1,167,000 1,144,000 ---------- ---------- Weighted average number of ordinary shares for the purpose of diluted earnings per share 586,358,000 552,882,000 =========== =========== The effect of convertible preference shares was excluded from the calculation of diluted earnings per share for 2003 since the effect would be anti-dilutive. The Company's convertible preference shares were fully converted and cancelled on 12 June 2003. The effect of warrants was excluded from the calculation of diluted earnings per share for 2003 as the exercise price of the Company's warrants was higher than the average market price of ordinary shares in 2003. The Company's warrants expired on 5 September 2003.