Tomson Group Limited — Earnings Release 1998

Apr 21, 1999

Listed Company Information

PUDONG DEV<0258> - Results Announcement Pudong Development Holdings Limited announced on 21/4/1999: (stock code: 258) Year end date: 31/12/1998 Currency: HKD 12-Month- 9-Month- Period Period from 1/1/1998 from 1/4/1997 to 31/12/1998 to 31/12/1997 ('000) ('000) Turnover : 216,410 400,882 Profit-Continuing Operations - Operating Profit/(Loss) : (130,417) 21,194 - Exceptional Items : (291,950) (43,865) - Discontinued Operations : N/A N/A Total Operating Profit/(Loss) : (422,367) (22,671) Share of Profit/(Loss) of Associated Companies : 21,847 (2,787) Profit/(Loss) after Tax & MI : (270,186) 12,599 % Change over Last Period : N/A EPS/(LPS)-Basic : (25.5 cents) 1.2 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (270,186) 12,599 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 Annual General Meeting : 22/6/1999 to 24/6/1999 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1) Change of financial year end The Directors have resolved in July 1997 to change the financial year end of the Company from 31st March to 31st December. Hence, the results for the preceding period covers a period of nine months from 1st April to 31st December, 1997. 2) Exceptional items Nine-Months Year ended ended 31st December, 31st December, 1998 1997 HK$'000 HK$'000 Profit on disposal of investment properties - 729 Add: Revaluation surplus realised on disposal - 1,925 ------- ------- - 2,654 -------- ------- Goodwill on consolidation realised on dissolution of subsidiary companies - (944) Provison for diminution in value of marketable securities (8,125) (22,054) Provision for diminution in value of an associated company - (2,244) Loss on disposal of properties under development - (2,459) Provision for diminution in value of properties under development (98,403) (18,818) Provision for diminution in value of properties held for sale (149,069) - Provision for permanent diminution in value of fixed assets (5,805) - Profit on disposal of fixed asset 11,631 - Provision for bad and doubtful debts (42,179) - ----------- ----------- (291,950) (43,865) ========== ========= 3) (Loss)/Earnings per share Calculation of the basic loss/earnings per share is based on the Group's loss for the year ended 31st December, 1998 of HK$270,186,000 (nine months ended 31st December 1997: profit of HK$12,599,000) and on the weighted average number of 1,060,670,668 shares (nine months ended 31st December, 1997: 1,028,956,993 shares) in issue during the year. Diluted earnings per share for the year is not applicable as there was no dilutive potential ordinary shares outstanding for the year (nine months ended 31st December, 1997: no dilution).