Suncorp Technologies Limited — Earnings Release 2005

Apr 27, 2006

Listed Company Information

Listed Company Information
DVN (HOLDINGS)<00500> - Results Announcement DVN (Holdings) Limited announced on 26/04/2006: (stock code: 00500 ) 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 : 304,618 169,236 Profit/(Loss) from Operations : (33,380) (53,665) Finance cost : (137) (1,060) Share of Profit/(Loss) of Associates : (130) N/A Share of Profit/(Loss) of Jointly Controlled Entities : (275) (1,032) Profit/(Loss) after Tax & MI : (33,922) (55,255) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.07) (0.13) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (33,922) (55,255) Final Dividend : N/A N/A per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A 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 Expense by nature Expenses included in cost of sales, marketing, selling, and distribution costs, administrative expense and other operating expenses are analysed as follows: 2005 2004 HK$'000 HK$'000 (Restated) Cost of inventories sold 226,304 116,650 Cost of provision of financial and consumer data 3,697 3,550 Depreciation 17,078 18,953 Auditors' remuneration 1,281 990 Employee benefit expense 28,912 30,392 Operating lease rentals on land and buildings 4,474 4,612 Net exchange loss 4 50 Other operating expenses including: Amortization of deferred development costs 4,569 4,729 Provision for impairment loss on intangible assets - - Provision against inventories 7,254 6,878 Provisions against deposits, trade and other receivables 15,365 15,357 Write-off of deferred development costs 1,112 - Net loss on disposal of fixed assets - 23 2 Finance costs 2005 2004 HK$'000 HK$'000 Interest on bank loans 130 1053 Interest element of finance leases 7 7 -------- --------- 137 1,060 ======== ========= 3 Income tax expense No provision for Hong Kong and overseas profits tax has been made in the accounts as the Group did not have any assessable profit for the year ( 2004: Nil). The taxation on the Group's loss before taxation differs from the theoretical amount that would arise using the domestic taxation rate in each of the Group companies as follows: Group ------------------- 2005 2004 HK$'000 HK$'000 Loss before taxation (33,922) (55,757) -------- -------- Notional tax calculated at the rates applicable in the countries concerned (8,360) (6,097) Tax at preferential rate 2,424 2,088 Income not subject to taxation (16) (18) Expenses not deductible for taxation purposes 4,683 585 Temporary difference not recognised (680) 1,979 Utilisation of previously unrecognised tax losses (581) (1,997) Tax losses not recognised 2,530 3,460 -------- -------- Taxation charge - - ======== ======== 4 Preference dividends Group ----------------------- 2005 2004 HK$'000 HK$'000 Dividends on 5% exchangeable preference shares issued by DVN ( Group) Limited, a wholly-owned subsidiary of the Company 5,812 5,812 ======== ======== 5 Loss per share The calculation of the basic loss per share is based on the Group's loss attributable to ordinary shareholders of HK$39,734,000 (2004 (restated): HK$61,067,000) and on the weighted average number of 580,948,967 (2004: 485,992,615) ordinary shares in issue during the year. No diluted loss per share is shown for the two years ended 31st December 2005 and 2004 as the share options and exchangeable preference shares outstanding had an anti-dilutive effect on the basic loss per share for both years. 6 Dividends The directors do not recommend the payment of a dividend for the year ended 31st December 2005 (2004: Nil). 7 Comparative figures Due to the adoption of new Hong Kong Accounting Standard. Certain comparative figures have been restated to conform with the current period's classification and presentations.