Wang On Group Limited — Earnings Release 1999

Aug 20, 1999

Listed Company Information

WANG ON GROUP<1222> - Results Announcement Wang On Group Limited announced on 20/8/1999: (stock code: 1222) 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 : 882,882 929,175 Profit-Continuing Operations - Operating Profit/(Loss) : (36,938) (54,538) - Exceptional Items : (83,875) - - Discontinued Operations : - - Total Operating Profit/(Loss) : (120,813) (54,538) Share of Profit/(Loss) of Associated Companies : 4,002 3,794 Profit/(Loss) after Tax & MI : (116,113) (67,686) % Change over Last Period : N/A EPS/(LPS)-Basic : (30.0 cents) (20.6 cents) -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : NIL NIL Profit/(Loss) after ETD Items : (116,113) (67,686) Final Dividend per Share : NIL 5 cents (Specify if with other options) : - - B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) Exceptional items Group 1999 1998 HK$'000 HK$'000 Write down of carrying values of properties held for re-sale to their net realisable values (63,412) - Provision for onerous contracts (38,068) - Gain on early redemption of convertible notes 8,200 - Gain on disposal of investment properties 9,405 - ------- ------ (83,875) - ====== ====== (2) Loss per share The calculation of basic loss per share is based on the net loss attributable to shareholders for the year of HK$116,113,000 (1998: HK$67,686,000) and on the weighted average number of 387,393,914 (1998: 329,087,385) ordinary shares issue. Diluted loss per share for the years ended 31 December 1999 and 1998 has not been shown as the options outstanding these years had an anti-dilutive effect on the basic loss per share for both years.