Announcement of Results
for the year ended 31 March 2000
Financial Highlights
Turnover : Up 11% to HK$6.0 billion ------------------------------------------ Profit : Up 23% to HK$503 million ------------------------------------------ Earnings per share : Up 22% to HK$1.92 ------------------------------------------ Dividend per share : Up 29% to HK$1.80 ------------------------------------------
Business review
Prospects
Results
2000 1999
Notes HK$'million HK$'million
Turnover 5,985.2 5,376.0
Other revenue 59.3 60.4
Changes in inventories of finished
goods and work in progress (247.5) (74.6)
Raw materials and consumables used (921.4) (1,020.9)
Staff costs (529.6) (498.1)
Depreciation and amortisation expenses (71.7) (69.9)
Subcontracting, external labour costs
and otheroperating expenses (3,696.7) (3,295.9)
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Profit from operations 577.6 477.0
Finance costs (1.0) (2.5)
Share of results of jointly
controlled entities 35.2 39.6
Deficit on revaluation of an
investment property - (30.6)
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Profit before taxation 611.8 483.5
Taxation 1 (102.1) (74.4)
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Profit before minority interest 509.7 409.1
Minority interest (6.6) (0.8)
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Profit attributable to shareholders 503.1 408.3
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Dividends 2 473.9 364.0
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Earnings per share 3
Basic HK$1.92 HK$ 1.57
Diluted HK$1.91 HK$ 1.57
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Notes:
1. Taxation
2000 1999
HK$'million HK$'million
Company and subsidiaries
Hong Kong profits tax 95.7 68.5
Income tax of other regions in
the People's Republic of China 0.1 0.2
Deferred taxation 0.6 (0.8)
Jointly controlled entities
Hong Kong profits tax 5.6 6.6
Income tax of other regions in
the People's Republic of China 0.3 0.3
Deferred taxation (0.2) (0.4)
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Total 102.1 74.4
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Hong Kong profits tax has been provided at the rate of 16% (1999: 16%) based on the estimated assessable profits for the year.
2. Dividends
2000 1999
HK$'million HK$'million
Interim dividend 144.3 104.0
Proposed final dividend 327.9 260.0
Additional final dividend for the
prior year due to exercise of
share options 1.7 -
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Total 473.9 364.0
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3. Earnings per share
The calculation of the basic and diluted earnings per share is based on the following data:
2000 1999
HK$'million HK$'million
Earnings for the purposes of basic and
diluted earnings per share 503.1 408.3
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Million Million
Weighted average number of ordinary
shares for the purposes of
basic earnings per share 261.5 260.0
Effect of dilutive potential
ordinary shares:
Share options 1.7 0.6
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Weighted average number of ordinary
shares for the purposes of
diluted earnings per share 263.2 260.6
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Dividends
The Directors recommend the payment of a final dividend of HK$1.25 per share. This together with the interim dividend of HK$0.55 per share paid on 8 December 1999 will give a total of HK$1.80 per share for the year ended 31 March 2000.
Subject to shareholders' approval at the forthcoming Annual General Meeting, the final dividend will be paid on 20 September 2000 to shareholders whose names appear on the Company's register of members on 5 September 2000.
Closure of register of members
The register of members of the Company will be closed from Tuesday, 29 August 2000 to Tuesday, 5 September 2000, both days inclusive, during which period no transfer of shares will be effected.
In order to qualify for the proposed final dividend, all share transfers accompanied by the relevant share certificates must be lodged with the Company's branch share registrar in Hong Kong, Standard Registrars Limited at 5th Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong, not later than 4:00 p.m. on Monday, 28 August 2000.
Purchase, sale or redemption of shares
Neither the Company nor any of its subsidiaries has purchased, sold or redeemed any of the Company's listed shares during the year.
Acknowledgment
I would like to extend my heartfelt appreciation to the Group's staff members for their dedication and contribution this past year and congratulate them on the results we have achieved.
By Order of the Board
Lo Hong Sui, Vincent
Chairman
Hong Kong, 26 June 2000
Web Site: www.shuion.com
* For identification purposes only
