PEARLRIVER TYRE<01187> - Results Announcement
Pearl River Tyre (Holdings) Limited announced on 15/04/2005:
(stock code: 01187 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2004 from 01/01/2003
to 31/12/2004 to 31/12/2003
Note ('000 ) ('000 )
Turnover : 141 1,264
Profit/(Loss) from Operations : (7,377) (11,397)
Finance cost : N/A N/A
Share of Profit/(Loss) of
Associates : 540 (15,136)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (7,297) (29,610)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.069) (0.282)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (7,297) (29,610)
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) The above results are the audited consolidated results of Pearl
River Tyre (Holdings) Limited (the "Company") and its subsidiaries (the "
Group") for the financial year ended 31 December 2004 (the "financial
year") together with the comparative figures for the financial year ended
31 December 2003 (the "previous financial year").
(2) The results of Guangzhou Pearl River Rubber Tyre Limited (the "
Joint Venture") have been included under the heading "Share of Profit/(
Loss) of Associates". The Joint Venture, a Sino-foreign joint venture
established in The People's Republic of China (the "PRC") is 70% owned by
a wholly-owned subsidiary of the Company and 30% owned by a state-owned
enterprise established in Guangzhou, the PRC. The investment in the Joint
Venture is accounted for in the financial statements of the Group using
the equity method. The Group's interest in the Joint Venture is 70% (2003
- 70%).
The share of profit/(loss) of the Joint Venture and associate is stated
before taking into account the Group's share of income tax of the Joint
Venture and associate.
(3) For better understanding of the Group's results, the results of
the Joint Venture for the financial year together with the comparative
figures for the previous financial year are set out below:-
2004 2003
HK$'000 HK$'000
Turnover 615,151 545,894
======= ========
Profit/(Loss) from operations 1,768 (21,515)
Finance cost (7,997) (8,215)
------- ----------
Loss before taxation (6,229) (29,730)
Taxation - (3,910)
-------- -------
Loss after taxation (6,229) (33,640)
======== ========
(4) The calculation of the basic loss per share is based on the
consolidated loss after taxation of HK$7,297,000 (2003 - HK$29,610,000)
for the financial year and on 105,116,280 (2003 - 105,116,280) ordinary
shares of A$0.20 each in issue during the financial year.
There is no dilutive effect on the basic loss per share for the financial
year and the previous financial year.
|
