Television Broadcasts Limited — Earnings Release 2003

Jul 18, 2003

Listed Company Information

HONG TONG HOLD<00290> - Results Announcement Hong Tong Holdings Limited announced on 18/7/2003: (stock code: 00290 ) Year end date: 31/3/2003 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/4/2002 from 1/4/2001 to 31/3/2003 to 31/3/2002 Note ('000 ) ('000 ) Turnover : 199,722 106,217 Profit/(Loss) from Operations : (37,068) 2,862 Finance cost : (106) (193) Share of Profit/(Loss) of Associates : (629) N/A Share of Profit/(Loss) of Jointly Controlled Entities : (2,645) N/A Profit/(Loss) after Tax & MI : (40,555) 885 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.185) 0.005 -Diluted (in dollars) : N/A 0.005 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (40,555) 885 Final Dividend : NIL NIL 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 Annual General Meeting : 27/8/2003 to 29/8/2003 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. TURNOVER Turnover represents the aggregate of the value of contract work carried out, the proceeds from sales of goods, brokerage income, margin interest earned and internet travelling booking service income during the year, and is analysed as follows: 2003 2002 HK$'000 HK$'000 Electrical engineering contracting 168,749 65,145 Sale of goods 29,741 41,072 Brokerage income from securities dealing 516 - Margin interest from securities brokerage business 520 - Internet travel booking service income 196 - ----- ------ 199,722 106,217 ======= ======= 2. TAXATION 2003 2002 HK$'000 HK$'000 The charge comprises: Company and subsidiaries Hong Kong Profits Tax Current year 465 356 (Over)underprovision in prior years (366) 1,428 ------ ------ 99 1,784 Share of taxation attributable to the associates Taxation in other jurisdictions 14 - ----- ------- 113 1,784 ==== ====== Hong Kong Profits Tax is calculated at 16% (2002: 16%) of the estimated assessable profit for the year. Taxation in other jurisdictions is calculated at the rates prevailing in the respective jurisdiction. Details of deferred tax are disclosed in note 42 to the financial statements. 3. DIVIDENDS No dividend has been paid or declared by the Company during the year. The directors do not recommend the payment of a final dividend. 4. (LOSS) EARNINGS PER SHARE The calculation of the basic and diluted (loss) earnings per share is based on the following data: THE GROUP 2003 2002 HK$'000 HK$'000 (Loss) earnings for the purposes of basic and diluted earnings per share (40,555) 885 ======= ==== '000 '000 Weighted average number of ordinary shares for the purposes of basic earnings per share 218,649 197,945 ======= Effect of dilutive potential ordinary shares: Options 194 ------ Weighted average number of ordinary shares for the purposes of diluted earnings per share 198,139 ======= No diluted loss per share for 2003 has been presented as the exercise of the Company's outstanding share options would result in a decrease in loss per share. The weighted average number of ordinary shares for the purposes of basic earnings per share for 2002 has been based on number of the shares that would be in issue on the assumption that the Corporate Reorganisation had been completed on 1 April 2001.