WH Group Limited — Earnings Release 2004

Jul 27, 2004

Listed Company Information

Listed Company Information
PREMIUM LAND<00164> - Results Announcement Premium Land Limited announced on 27/7/2004: (stock code: 00164 ) Year end date: 31/3/2004 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/4/2003 from 1/4/2002 to 31/3/2004 to 31/3/2003 Note ('000 ) ('000 ) Turnover : 183,650 261,304 Profit/(Loss) from Operations : (171,302) (205,043) Finance cost : (20,272) (16,014) Share of Profit/(Loss) of Associates : (40) 51 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : (67,205) (220,464) % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.0177) (0.0688) -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (67,205) (220,464) Final Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. During the year, the Group has adopted, for the first time, the revised Statement of Standard Accounting Practice ("SSAP") 12 "Income Taxes", which is one of the Hong Kong Financial Reporting Standards ("HKFRS") issued by the Hong Kong Society of Accountants ("HKSA"). The principal effect of the implementation of SSAP12 (Revised) is in relation to deferred taxation. SSAP 12 (Revised) requires the adoption of a balance sheet liability method, whereby deferred taxation is recognised in respect of all temporary differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, with limited exceptions. In the absence of any specific transitional requirements in SSAP 12 (Revised), the new accounting policy has been applied retrospectively. 2. LOSS PER SHARE The calculation of the basic loss per share is based on the loss for the year of HK$67,205,000 (2003: HK$220,464,000) and on the weighted average number of 3,787,620,833 shares (2003: 3,202,436,654 shares) in issue. The computation of diluted loss per share for the year ended 31st March, 2004 and 2003 does not assume the conversion of the Company's outstanding share options and warrants since their exercise would result in a decrease in the net loss per share from the operations. 3. The Board does not recommend the payment of dividend for the year ended 31st March 2004 (2003 : NIL)