SHUN CHEONG<00650> - Results Announcement
Shun Cheong Holdings Limited announced on 15/12/2004:
(stock code: 00650 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/4/2004 from 1/4/2003
to 30/9/2004 to 30/9/2003
Note ('000 ) ('000 )
Turnover : 249,407 396,829
Profit/(Loss) from Operations : (8,423) 10,407
Finance cost : (775) (1,279)
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 : (12,446) 2,558
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.1073) 0.0221
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (12,446) 2,558
Interim Dividend : Nil Nil
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim 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. Basis of preparation and principal accounting polices
The unaudited condensed consolidated interim financial statements are
prepared in accordance with the Hong Kong Statement of Standard Accounting
Practice No. 25 "Interim Financial Reporting" and the requirements of the
Appendix 16 of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.
These unaudited condensed consolidated interim financial statements should
be read in conjunction with the annual financial statements for the year
ended 31 March 2004. The accounting policies and basis of preparation
used in preparing these unaudited condensed consolidated interim financial
statements are consistent with those used in the annual financial
statements for the year ended 31 March 2004.
2. Profit/(loss) from operations
Profit/(loss) from operations is arrived at after charging/(crediting):
Six months ended 30 September
2004 2003
(Unaudited) (Unaudited)
HK$'000 HK$'000
Cost of inventories sold 7,230 11,388
Cost of installation 218,858 339,896
_______ _______
226,088 351,284
_______ _______
Depreciation
- Owned fixed assets 933 1,136
- Fixed assets held under finance
leases 39 108
Minimum lease payments under operating
leases in respect of land and buildings 703 793
Staff costs (including directors'
remuneration) 24,655 33,302
Loss on disposal of fixed assets 19 -
Recovery of doubtful debts - (281)
Interest income (14) (180)
_______ _______
_______ _______
3. Earnings/(loss) per share
Six months ended 30 September
2004 2003
(Unaudited) (Unaudited
and restated)
HK$'000 HK$'000
Earnings/(loss)
Net profit/(loss) attributable to
shareholders used in
basic earnings/(loss) per share
calculations (12,446) 2,558
__________ __________
__________ __________
Shares
Number of ordinary shares in issue during the period
used in basic earnings/(loss) per share calculations
115,930,400 115,930,400
__________ __________
__________ __________
The earnings per share for the six months ended 30 September 2003 has been
restated to reflect the reduction in number of ordinary shares in issue to
115,930,400 shares as a result of the Capital Reorganisation (as defined
in the Company's circular dated 24 August 2004).
The diluted earnings/(loss) per share have not been disclosed as no
diluting events existed during the six months ended 30 September 2003 and
2004.
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