Value Partners Group Limited — Earnings Release 1999

Aug 20, 1999

Listed Company Information

STARLITE HOLD<0403> - Results Announcement Starlite Holdings Limited announced on 20/8/1999: (stock code: 403) Year end date: 31/3/1999 Currency: HK$ Last Current Corresponding Period Period from 1/4/1998 from 1/4/1997 to 31/3/1999 to 31/3/1998 ('000) ('000) Turnover/Interest Income : 390,700 401,660 Profit-Continuing Operations - Operating Profit/(Loss) : 2,557 4,102 - Exceptional Items : (76,000) (2,728) - Discontinued Operations : - - Total Operating Profit/(Loss) : (73,443) 1,374 Share of Profit/(Loss) of Associated Companies : - - Profit/(Loss) after Tax & MI : (75,978) 6,240 % Change over Last Period : N/A EPS/(LPS)-Basic : (20.83 cents) 2.1 cents -Diluted : N/A 0.69 cent Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : (75,978) 6,240 Final Dividend per Share : NIL NIL (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 22/9/1999 to 29/9/1999 bdi. Other Distribution for Current Period : NIL B/C Dates for Other Distribution : N/A Remarks: (A) Exceptional items HK$ HK$ 1999 1998 1. Loss relating to Everfar Holdings Limited/pulp moulding operation (i) Guaranteed return payable to the minority shareholder of Everfar (1,652,000) (1,656,000) (ii) Loss in connection with the acquisition of 45% interest in Everfar (14,970,000) - (iii) Provision for diminution in value of assets of Everfar (42,039,000) - 2. Loss relating to the suspension of construction of factory premises in Suzhou (12,691,000) - 3. Net loss in connection with a licensing business (4,648,000) - 4. Loss relating to the closure of the Malaysian operation - (1,072,000) ------------ ------------ (76,000,000) (2,728,000) ========= ========= (B) Earnings per share (i) The calculation of basic (loss) earnings per share for the year ended 31st March 1999 was based on the consolidated loss attributable to shareholders of approximately HK$75,978,000 (1998-profit of HK$6,240,000) and on the weighted average number of approximately 364,801,000 shares (1998 - 297,148,000 shares) in issue during the year. Diluted loss per shear for the year ended 31st March 1999 is the same as basic loss per share as the outstanding employee share options were anti-dilutive. The diluted earnings per share for the year ended 31st March, 1998 have been restated in accordance with the revised Statement of Standard Accounting Practice Number 5 "Earnings per share" issued in May 1998 and were calculated based on the adjusted consolidated profit attributable to shareholders of approximately HK$2,067,000 and the diluted weighted average number of approximately 299,684,000 shares in issue during the year, after taking into account all dilutive instruments. A reconciliation of the earnings (loss) and the weighted average number of shares used in calculating the basic earnings (loss) per share and the diluted earnings (loss) per share will be presented in the audited financial statements.