Value Partners Group Limited — Earnings Release 2000

Aug 7, 2000

Listed Company Information

STARLITE HOLD<0403> - Results Announcement Starlite Holdings Limited announced on 7/8/2000: (stock code: 403) Year end date: 31/3/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/4/1999 from 1/4/1998 to 31/3/2000 to 31/3/1999 ('000) ('000) Turnover - Continuing : 475,653 390,700 - Discontinued : - - Operating Profit/(Loss) - Continuing : 21,654 (73,443) - Discontinued : - - Total Operating Profit/(Loss) : 21,654 (73,443) Share of Profit/(Loss) of Associated Companies : - - Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 17,284 (75,978) % Change over Last Period : N/A EPS/(LPS)-Basic : 4.44 cents (20.83 cents) -Diluted : 4.43 cents N/A Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 17,284 (75,978) 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 : 26/9/2000 to 29/9/2000 bdi. Other Distribution for Current Period : Nil B/C Dates for Other Distribution : N/A Remarks: (1) Operating profit Operating profit is arrived at after charging the following :- 2000 1999 HK$'000 HK$'000 Loss relating to termination of certain licensing rights (Note a) (5,569) (4,648) Loss relating to pulp moulding operations -- (58,661) Loss relating to suspension of construction of factory premises -- (12,691) -------- -------- (5,569) (76,000) ========= ======== Note a Loss relating to termination of certain licensing rights From December 1998 to June 1999, the Group entered into agreements with certain licensors to terminate certain greeting cards licensing rights by December 2000. In this connection, the Group recorded a provision of approximately HK$5,179,000 (1999 - HK$6,585,000) against related inventories and approximately HK$390,000 (1999 - $nil) against rights termination receivable from a licensor, and recognised compensation received from a licensor of $nil (1999 - approximately HK$1,937,000). (2) Earnings per share The calculation of basic earnings(loss) per share for the year ended 31st March 2000 is based on the consolidated profit attributable to shareholders of approximately HK$17,284,000 (1999 - loss of HK$75,978,000) and on the weighted average number of approximately 389,332,000 shares (1999 - 364,801,000 shares) in issue during the year. The calculation of diluted earnings(loss) per share for the year ended 31st March 2000 is based on the consolidated profit attributable to shareholders of approximately HK$17,284,000 and on the weighted average number of approximately 390,400,000 shares in issue, adjusted for the effects of all dilutive potential shares for the year ended 31st March 2000. The diluted loss per share for the year ended 31st March 1999 is not presented, as the outstanding employee share options were anti-dilutive. (3) Comparative figures The comparative figures have been adjusted or expanded to take into account Statement 2.101 of Statement of Standard Accounting Practice "Presentation of Financial Statements" issued by the Hong Kong Society of Accountants, which became effective during the year.