ZO Future Group — Earnings Release 2004

Jul 28, 2004

Listed Company Information

Listed Company Information
GRANDTOP INT'L<02309> - Results Announcement Grandtop International Holdings Limited announced on 28/7/2004: (stock code: 02309 ) 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 : 119,410 34,769 Profit/(Loss) from Operations : 29,204 24,835 Finance cost : (188) (32) 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 : 23,497 24,684 % Change over Last Period : -5 % EPS/(LPS)-Basic (in dollars) : 0.0734 0.0771 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 23,497 24,684 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. TURNOVER AND REVENUE An analysis of the Group's turnover and other revenue is as follows: 2004 2003 HK$'000 HK$'000 Turnover: Provision of apparel sourcing, quality assurance and social compliance monitoring services 89,523 - Provision of sales support services 3,621 5,162 Provision of marketing and compliance monitoring services 26,266 29,607 ----------------------- 119,410 34,769 ======================= Other revenue: Interest income 19 60 Dividend income from listed securities 80 56 Sundry income - 21 ----------------------- 99 137 ----------------------- Total revenue 119,509 34,906 ======================= There is no discontinued operation in the year. 2. PROFIT FROM OPERATIONS The Group's profit from operations is arrived at after charging: 2004 2003 HK$'000 HK$'000 Staff costs (excluding directors' remuneration): Wages and salaries 3,033 1,092 Retirement benefits contributions 264 128 --------------------- 3,297 1,220 ====================== Auditors' remuneration 500 500 Depreciation of owned fixed assets 1,109 847 Loss on disposal of a subsidiary 72 - Amortisation of intangible assets - Goodwill 118 - - System development costs 465 113 Operating lease rental on respect of rental premises 308 260 Cost of inventories expensed 75,686 - ========================== 3. EARNINGS PER SHARE The calculation of basic earnings per share is based on the net profit attributable to shareholders for the year ended 31 March 2004 of HK$23,497,000 (2003: HK$24,684,000) and the weighted average of 320,000,000 (2003: 320,000,000) ordinary shares in issue during the year. The weighted average number of shares outstanding for the year ended 31 March 2003 has been retrospectively adjusted for the effects of the bonus issue during the year. There were no potential dilutive shares in existence for the two years ended 31 March 2004 and accordingly, no diluted earnings per share has been presented.