Value Partners Group Limited — Earnings Release 2006

Jul 6, 2006

Listed Company Information

Listed Company Information
STARLITE HOLD<00403> - Results Announcement Starlite Holdings Limited announced on 06/07/2006: (stock code: 00403 ) Year end date: 31/03/2006 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/04/2005 from 01/04/2004 to 31/03/2006 to 31/03/2005 Note ('000 ) ('000 ) Turnover : 902,688 850,787 Profit/(Loss) from Operations : 67,636 86,934 Finance cost : (14,024) (6,224) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 31,128 62,804 % Change over Last Period : -50.44 % EPS/(LPS)-Basic (in dollars) : 0.0727 0.1477 -Diluted (in dollars) : 0.0726 0.1473 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 31,128 62,804 Final Dividend : 1.5 cents 2.5 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 16/08/2006 to 18/08/2006 bdi. Payable Date : 04/09/2006 B/C Dates for Annual General Meeting : 16/08/2006 to 18/08/2006 bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Earnings per share The calculation of basic and diluted earnings per share are based on the consolidated profit attributable to shareholders of approximately HK$31, 128,000 (2005 : HK$62,804,000). The basic earnings per share is based on the weighted average of 428,426, 000 (2005 : 425,175,000) ordinary shares in issue during the year. The diluted earnings per share is based on 428,893,000 (2005 : 426,311,000) ordinary shares which is the weighted average number of ordinary shares in issue during the year plus the effect of dilutive potential ordinary shares of 467,000 (2005 : 1,136,000) ordinary shares deemed to be issued if all outstanding options had been exercised. 2. Adjustments of comparative figures The financial statements of the Company have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRS"). The financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, which are carried at fair value. The preparation of financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. During the year ended 31st March, 2006, the Group adopted the new / revised standards and interpretations of HKFRS below, which are relevant to its operations. The 2005 comparatives have been amended as appropriate, in accordance with the relevant requirements. The adoption of revised HKAS 17 has resulted in a change in the accounting policy relating to the reclassification of leasehold land and land use rights from property, plant and equipment to operating leases. The up- front prepayments made for the leasehold land and land use rights are expensed in the income statement on a straight-line basis over the period of the lease or when there is impairment, the impairment is expensed in the income statement. In prior years, the leasehold land was accounted for at cost less accumulated depreciation and accumulated impairment, if any. The adoption of HKASs 32, 39 and 39 (Amendment) has resulted in a change in the accounting policy relating to the classification of financial assets at fair value through profit and loss and available-for-sale financial assets. It has also resulted in the recognition of derivative financial instruments at fair value and the change in the recognition and measurement of hedging activities. The adoption of HKFRS 2 has resulted in a change in the accounting policy for share-based payments. Until 31st March, 2005, the provision of share options to employees did not result in an expense in the income statement. Effective on 1st April, 2005, the Group expenses the cost of share options in the income statement. As a transitional provision, the cost of share options granted after 7th November 2002 which had not yet vested on 1st January, 2005 was expensed retrospectively in the income statement of the respective periods.