08:56     WAI KEE HOLD<00610> - Results Announcement (1)                      

    Wai Kee Holdings Limited announced on 01/04/2005:                         
    (stock code: 00610 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 508,029            767,906           
    Profit/(Loss) from Operations      : 313,540            (47,337)          
    Finance cost                       : (1,526)            (15,689)          
    Share of Profit/(Loss) of                                                 
      Associates                       : 184,369            164,361           
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 173,751            89,592            
    Profit/(Loss) after Tax & MI       : 608,832            125,327           
    % Change over Last Period          : +386      %                          
    EPS/(LPS)-Basic (in dollars)       : 0.7696             0.1599            
             -Diluted (in dollars)     : 0.7681             0.1588            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 608,832            125,327           
    Final Dividend                     : 6 cents            5 cents           
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 10/05/2005         to 13/05/2005 bdi.
    Payable Date                       : 27/05/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 10/05/2005         to 13/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      RECONCILATION OF CHANGE OF FIGURES FOR THE LAST YEAR              
                                                                              
    In the current year, an associate of the Group has adopted, for the first 
    time, Statement of Standard Accounting Practice ("SSAP") 36 "Agriculture" 
    issued by Hong Kong Institute of Certified Public Accountants which is    
    effective for accounting periods commencing on or after 1st January, 2004.
                                                                              
    The principal effect of the adoption of SSAP 36 is in relation to the     
    agricultural activities undertaken by the associate.  SSAP 36 requires the
    measurement of biological assets and agricultural produce at their fair   
    value less estimated point-of-sale costs.  The gain or loss arising from a
    change in fair value less estimated point-of-sale costs is included in the
    profit or loss for the year in which it arises.  However, given the       
    uncertainty in the process of producing the ginseng crops and the lack of 
    a market for immature ginseng.  The ginseng crops are stated at cost until
    the time of harvest.  In the absence of any specific transitional         
    requirements in SSAP 36, the new accounting policy has been applied       
    retrospectively.                                                          
                                                                              
    As a result of this change in policy, the comparison figures for the last 
    corresponding year have been restated.  Reconciliation is set out below:  
                                                                              
                    Share of        Amortisation     Profit after   Profit    
                    Profit of       of Goodwill      taxation       after     
                    Associates      of an Associates & MI           ETD Items 
                    HK$'000         HK$'000          HK$'000        HK$'000   
    Per last year's figures                                                   
                    161,991         -               123,883         123,883   
    Amortisation of goodwill of an associate                                  
     was disclosed as a separate item in                                      
     current year's Consolidated Income Statement                             
                    926             (926)           -               -         
                    -----------     -----------     ----------      --------- 
                    162,917         (926)           123,883         123,883   
                                                                              
    Adjustment due to adoption of SSAP 36                                     
     undertaken by an associate                                               
                    1,444           -               1,444           1,444     
                    ----------      ----------      ----------      ----------
    Per current year's figures                                                
                    164,361         (926)           125,327         125,327   
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