GUANGZHOU PHAR<0874> - Results Announcement
Guangzhou Pharmaceutical Company Limited announced on 9/4/1999:
(stock code: 874)
Year end date: 31/12/1998
Currency: RMB
(Proforma)
12-Month- 4-Month- 12-Month-
Period Period Period
from 1/1/1998 from 1/9/1997 from 1/1/1997
to 31/12/1998 to 31/12/1997 to 31/12/1997
('000) ('000) ('000)
Turnover : 3,326,658 1,011,689 3,056,512
Profit-Continuing Operations
- Operating Profit/(Loss) : 161,314 52,995 182,947
- Exceptional Items : - - -
- Discontinued Operations : - - -
Total Operating Profit : 161,314 52,995 182,947
Share of Profit/(Loss) of
Jointly Controlled Entities : (87) (634) (494)
Share of Profit/(Loss) of
Associated Companies : 694 115 809
Profit/(Loss) after Tax & MI : 123,724 42,315 128,417
% Change over Last Period : N/A
EPS/(LPS)-Basic : RMB0.17 RMB0.07 RMB0.23
-Diluted : N/A N/A N/A
Extraordinary (ETD) Gain/(Loss): - - -
Profit/(Loss) after ETD Items : 123,724 42,315 128,417
Final Dividend per H Share : RMB0.035 NIL N/A
(Specify if with other options): - - -
B/C Dates for Final Dividend : 11/5/1999 to 11/6/1999 bdi.
Payable Date : on or before 26/6/1999
B/C Dates for AGM : 11/5/1999 to 11/6/1999 bdi.
Other Distribution for Current
Period : N/A
B/C Dates for Other
Distribution : N/A
Remarks:
1) The Company was established in the People's Republic of China (the
"PRC") on 1st September 1997 as a joint stock company with limited
liability as part of the reorganisation of a State-owned enterprise known
as Guangzhou Pharmaceutical Holdings Limited ("GZPHL"). Pursuant to the
reorganisation on 1st September 1997, the Company acquired the principal
business undertakings and certain assets and liabilities of GZPHL
relating to the development, manufacture and sale of Chinese patent
medicine as well as the trading and import and export of Western
pharmaceutical products, Chinese patent medicine, Chinese raw medicine and
medical apperatus by issuing $13,000,000 State-owned Shares of the Company
with a par value of RMB1.00 each to GZPHL.
The results of the businesses transferred to the Group are accounted for
by the Group from the date of establishment of the Company.
For comparison purposes, the proforma profit and loss account for the year
ended 31st December, 1997 has been prepared on a combined basis as if the
group structure existed at 31st December, 1997 had been in existence
throughout the year ended 31st December, 1997 and that the operations of
the Group for the year ended 31st December, 1997 comprised its business
undertakings existed at 31st December, 1997.
2) The calculation of earnings per share is based on the Group's profit
attributable to shareholders of RMB123.72 million (four months ended 31st
December, 1997 : RMB42.32 million) and the weighted average number of
732.90 million shares (four months ended 31st December, 1997 : 627.49
million shares) outstanding during the year ended 31st December, 1998
(four months ended 31st December, 1997).
The calculation of proforma earnings per share for the year ended 31st
December, 1997 is based on the proforma profit attributable to
shareholders of RMB128.42 million and on the weighted average number of
550.96 million shares outstanding during the year ended 31st December,
1997, assuming that the reorganisation of the Company had been completed
on 1st January, 1997 and that the 513 million shares issued pursuant to
the reorganisation had been issued on 1st January, 1997.
Diluted earnings per share is not presented as the Company does not have
any dilutive potential shares.
For more details, please refer to the press announcement today.
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