PEARLRIVER TYRE<01187> - Results Announcement
Pearl River Tyre (Holdings) Limited announced on 28/09/2005:
(stock code: 01187 )
Year end date: 31/12/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2005 from 01/01/2004
to 30/06/2005 to 30/06/2004
Note ('000 ) ('000 )
Turnover : 249 1,488
Profit/(Loss) from Operations : (2,485) (1,472)
Finance cost : N/A N/A
Share of Profit/(Loss) of
Associates : 4,570 (3,863)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 2,085 (5,485)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : 0.020 (0.052)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 2,085 (5,485)
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:
(a) The above results are the unaudited consolidated results of Pearl
River Tyre (Holdings) Limited (the "Company") and its subsidiaries (the "
Group") for the six month period ended 30 June 2005 (the "current period")
together with the comparative figures for the corresponding period ended
30 June 2004 (the "corresponding period").
(b) 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% (30.6
.2004 - 70%).
The share of profit/(loss) of the Joint Venture is stated before taking
into account the Group's share of income tax of the Joint Venture.
(c) For better understanding of the Group's results, the results of
the Joint Venture for the current period together with the comparative
figures for the corresponding period are set out below:-
30.6.2005 30.6.2004
HK$'000 HK$'000
Turnover 355,536 266,022
======== ==========
Profit/(Loss) from operations 10,309 (6,547)
Finance cost (3,781) (4,216)
--------- ----------
Profit/(Loss) before taxation 6,528 (10,763)
Taxation - -
--------- ----------
Profit/(Loss) after taxation 6,528 (10,763)
========= ==========
(d) The calculation of the basic profit/(loss) per share is based on
the consolidated profit after taxation of HK$2,085,000 (30.6.2004 - net
loss of HK$5,485,000) for the current period and on 105,116,280 (30.6.2004
- 105,116,280) ordinary shares of A$0.20 each in issue during the current
period.
There is no dilutive effect on the basic profit/(loss) per share for the
current period and the corresponding period.
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