CAPITAL ESTATE<00193> - Results Announcement
Capital Estate Limited announced on 21/11/2006:
(stock code: 00193 )
Year end date: 31/07/2006
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/08/2005 from 01/08/2004
to 31/07/2006 to 31/07/2005
Note ('000 ) ('000 )
Turnover : 408,852 25,713
Profit/(Loss) from Operations : 41,134 7,657
Finance cost : (568) (808)
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 : 28,900 6,398
% Change over Last Period : +351.7 %
EPS/(LPS)-Basic (in dollars) : 0.0260 0.0319
-Diluted (in dollars) : 0.0252 0.0316
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 28,900 6,398
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 Annual
General Meeting : 19/12/2006 to 22/12/2006 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. APPLICATION OF HONG KONG FINANCIAL REPORTING STANDARDS
In the current year, the Group has applied, for the first time, a
number of new Hong Kong Financial Reporting Standards ("HKFRS(s)"), Hong
Kong Accounting Standards ("HKAS(s)") and Interpretations ("INT(s)") (
hereinafter collectively referred to as "new HKFRSs") issued by the Hong
Kong Institute of Certified Public Accountants (the "HKICPA") that are
effective for accounting periods beginning on or after 1st January, 2005.
The adoption of the new HKFRSs has resulted in changes to the Group's
accounting policies that have an effect on how the results for the current
and/or prior accounting years are prepared and presented.
The effects of changes in the accounting polices on the results of the
Group for the current and prior years are as follows:
Effect of
adopting 2006 2005
---------------------------------------
HK$'000 HK$'000
Decrease in amortisation of goodwill
HKFRS 3 226 -
Increase in share-based payments expenses
HKFRS 2 (5,961) -
(Increase) decrease in effective interest on the
liability component of convertible notes
HKAS 32 (27) 496
______________________
(Decrease) increase in profit for the year
(5,762) 496
========================
2. REVENUE, BUSINESS AND GEOGRAPHICAL SEGMENTS
Revenue and business segments
An analysis of the Group's revenue and results by business
segments are as follows:
Property Financial Property Estate
rental investment sale agency Consolidated
------------------------------------------------------------------------
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
INCOME STATEMENT
For the year ended 31st July, 2006
REVENUE
External sales
411 402,908 - 5,533 408,852
========================================================================
SEGMENT RESULT
(21,448) 72,593 - 288 51,433
=========================================================
Unallocated corporate income
1,135
Unallocated corporate expenses
(11,434)
Finance costs
(568)
________
Profit before taxation
40,566
Taxation
(11,584)
_________
Profit for the year
28,982
=========
Property Financial Property Estate
rental investment sale agency Consolidated
------------------------------------------------------------------------
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
INCOME STATEMENT
For the year ended 31st July, 2005
REVENUE
External sales
472 10,251 10,050 4,940 25,713
======================================================================
SEGMENT RESULT
6,387 1,421 (786) 862 7,884
=======================================================
Unallocated corporate income
105
Unallocated corporate expenses
(332)
Finance costs
(808)
_______
Profit before taxation
6,849
Taxation
(210)
______
Profit for the year
6,639
========
Geographical segments
Segment information about geographic markets is presented below:
Revenue by
geographical market
_______________________
2006 2005
-----------------------
HK$'000 HK$'000
Hong Kong 408,852 25,713
=======================
3. EARNINGS PER SHARE
The calculation of basic and diluted earnings per share is based
on the following data:
2006 2005
------------------------
HK$'000 HK$'000
(as restated)
Earnings:
Earnings for the purpose of basic earnings per share
Profit for the year attributable to equity holders of the
Company 28,900 6,398
Interest on convertible notes 44 437
_______________________
Earnings for the purpose of diluted earnings per share
28,944 6,835
========================
2006 2005
-----------------------
(as restated)
Number of shares:
Weighted average number of ordinary shares for the
purposes of basic earnings per share
1,112,306,128 200,585,146
Effect of dilutive potential ordinary shares:
- convertible notes 2,847,922 15,745,198
- warrants 32,211,109 -
- share options 785,089 -
__________________________________
Weighted average number of ordinary shares for
the purposes of diluted earnings per share
1,148,150,248 216,330,344
==================================
The weighted average number of ordinary shares for the year ended 31st
July, 2005 for the purpose of calculating the basic and diluted earnings
per share has been adjusted to reflect the effects of share consolidation,
rights issue and share subdivision during the year.
The following table summarises the impact on basic and diluted
earnings per share as a result of:
Impact on basic Impact on diluted
earnings per share earnings per share
__________________ ________________________
2006 2005 2006 2005
---------------------------------------------------------
HK cents HK cents HK cents HK cents
Figures before adjustment
3.12 2.94 3.02 2.79
Adjustments arising from changes
in accounting policies (see note 1)
(0.52) 0.25 (0.50) 0.37
____________________________________________________________
Restated
2.60 3.19 2.52 3.16
========================================================
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