PIONEER GLOBAL<00224> - Results Announcement
Pioneer Global Group Limited announced on 06/12/2004:
(stock code: 00224 )
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 01/04/2004 from 01/04/2003
to 30/09/2004 to 30/09/2003
Note ('000 ) ('000 )
Turnover : 16,653 19,913
Profit/(Loss) from Operations : 22,785 9,889
Finance cost : (458) (1,328)
Share of Profit/(Loss) of
Associates : 1,581 1,189
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 23,337 8,741
% Change over Last Period : +166.98 %
EPS/(LPS)-Basic (in dollars) : 0.0312 0.0117
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 23,337 8,741
Interim Dividend : 0.50 cent NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim Dividend : 14/02/2005 to 18/02/2005bdi.
Payable Date : 21/02/2005
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 PRESENTATION AND ACCOUNTING POLICIES
The unaudited condensed consolidated interim financial statements are
prepared in accordance with Hong Kong Statements of Standard Accounting
Practice (SSAP25) "Interim Financial Reporting" issued by the Hong Kong
Institute of Certified Public Accountants. The accounting policies used
in the preparation of interim financial statements are consistent with
those used in the annual financial statements for the year ended 31 March
2004.
2) SEGMENT INFORMATION
Segment information is presented on a primary reporting basis by business
segment.
Business Segment
Property Investments
and Hotels and Others Consolidated
2004 2003 2004 2003 2004 2003
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
-------------------------------------------------------------------------
Segment turnover 10,599 12,913 6,054 7,000 16,653 19,913
------------------------------------------------------
Segment result 3,297 5,490 5,142 3,683 8,439 9,173
Unallocated corporate expenses (725) (864)
-----------------
Operating profit 7,714 8,309
Share of profits and (losses) of associates
- Listed - - (1,446) 1,310 (1,446) 1,310
- Unlisted 3,027 (121) - - 3,027 (121)
Finance costs (458) (1,328)
Net profit on disposal of
assets less impairment provisions 15,071 1,580
Taxation (479) (672)
Minority interests (92) (337)
------------------
Net profit 23,337 8,741
==================
3) TAXATION
2004
Current Deferred
taxation taxation Total
HK$'000 HK$'000 HK$'000
The Company and its subsidiaries
Hong Kong 514 (53) 461
Overseas 18 - 18
----- ------ -----
532 (53) 479
Associates - overseas
Listed - - -
Unlisted - - -
------ ------- ------
532 (53) 479
====== ======= ======
2003
Current Deferred
taxation taxation Total
HK$'000 HK$'000 HK$'000
The Company and its subsidiaries
Hong Kong 316 219 535
Overseas 6 - 6
------ ------- -------
322 219 541
Associates - overseas
Listed 28 103 131
Unlisted - - -
------ ------- -------
350 322 672
====== ======= =======
Hong Kong profits tax has been provided at the rate of 17.50% (2003 : 17.
50%) on the estimated Hong Kong source assessable profits for the period.
Overseas tax has been provided at the applicable rates in the countries in
which the tax is levied.
4) EARNINGS PER SHARE
Earnings per share is calculated on profit attributable to shareholders
amounting to HK$23,337,000 (2003 : Profit of HK$8,741,000) and on
weighted average number of 748,961,290 shares in issue during the period
(2003 : on 748,984,917 shares in issue during the period).
No diluted earnings per share have been presented for the periods ended 30
September 2004 and 2003 respectively as the exercised prices of the share
options granted by the Company were higher than the fair value per share
at the balance sheet date.
5) INTERIM DIVIDEND
The Board of Directors declares on interim dividend of HK 0.50 cent per
share (2003: Nil), totalling HK$3,847,000 for the six months ended 30
September 2004 (2003: Nil) to shareholders whose names appear on the
registers of members of the Company at the close of business on 18
February 2005. This amount is not included as a liability in these
interim financial statements.
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