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Fountain Set declares unaudited consolidated interim results

30
May '06
Fountain Set (Holdings) Limited, a global leader in the manufacturing of knitted fabrics, announced its unaudited consolidated interim results for the six months ended February 28, 2006.

The results of the Group for the six months ended February 28, 2006 have substantially improved over the same period last year. The turnover was approximately HK$3,237,940,000, 3.83 percent higher than the same period in 2005 and the unaudited profit attributable to shareholders significantly increased by 274.50 percent to approximately

HK$204,676,000. Profit margin for the period under review was 6.32 percent, a drastical increase of 4.57 percentage point over the same period last year. Earnings per share were HK25.78 cents, compared to HK6.88 cents in 2005. The Board resolved the payment of an interim dividend of HK4.50 cents per share.

The Group has completed the disposal of certain non-core property interests in Hong Kong during the period under review. The disposal of these property interests resulted in a net gain (after tax) of approximately HK$128,796,000 which has been adjusted to take into account the effect of the adoption of new accounting standards and the change of accounting policies during the period under review.

If the net gain on disposal of property interests is excluded, the profit attributable to shareholders increased by 38.84 percent to approximately HK$75,880,000 and profit margin was 2.34 percent, an increase of 0.59 percentage point over the same period last year.


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