08:58     UNITED METALS<02302> - Results Announcement                         

    United Metals Holdings Limited announced on 08/04/2005:                   
    (stock code: 02302 )                                                      
    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                           : 154,584            150,545           
    Profit/(Loss) from Operations   1  : 9,562              27,978            
    Finance cost                       : (191)              (265)             
    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       : 8,414              25,754            
    % Change over Last Period          : -67.3     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.038              0.117             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 8,414              25,754            
    Final Dividend                     : Nil                2 cents           
      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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Basis of preparation of the financial statements and comparative  
    figures                                                                   
                                                                              
    The financial statements have been prepared under the historical cost     
    convention, as modified for the revaluation of investments in securities, 
    and in accordance with accounting principles generally accepted in Hong   
    Kong.                                                                     
                                                                              
    In 2004, the Hong Kong Institute of Certified Public Accountants issued a 
    number of new or revised Hong Kong Accounting Standards and Hong Kong     
    Financial Reporting Standards (herein collectively referred to as "new    
    HKFRSs") which are effective for accounting periods beginning on or after 
    1st January, 2005.  The Group has not early adopted these new HKFRSs in   
    the financial statements for the year ended 31st December, 2004.          
                                                                              
    The Group has commenced considering the potential impact of these new     
    HKFRSs but is not yet in a position to determine whether these new HKFRSs 
    would have a significant impact on how its results of operations and      
    financial position are prepared and presented.  These new HKFRSs may      
    result in changes in the future as to how the results and financial       
    position are prepared and presented.                                      
                                                                              
    During the year, the directors conducted a review of the classification of
    other staff costs and concluded that part of other staff costs should be  
    reclassified from administrative expenses to cost of sales and selling and
    distribution expenses in order to present a more realistic financial      
    position of the Group. Accordingly, other staff costs for the year ended  
    31st December, 2003 amounted to approximately HK$4,071,000 and HK$1,132,  
    000 which were previously included in the administrative expenses were    
    reclassified to cost of sales and selling and distribution expenses       
    respectively.                                                             
                                                                              
    2.      Earnings per share                                                
                                                                              
    The calculation of the basic earnings per share for the year is           
    based on the following data:                                              
                                                    Year ended 31st December, 
                                                    2004            2003      
                                                    HK$'000         HK$'000   
            Earnings for the purpose of                                       
            basic earnings per share                8,414           25,754    
                                                    =========       ========= 
            Weighted average number of shares                                 
             for the purpose of                                               
             basic earnings per share               220,000,000   219,246,575 
                                                    ===========   ============
                                                                              
    No diluted earnings per share has been presented as there were no         
    potential dilutive ordinary shares outstanding during the year.           
                                                                              
    For more details, please refer to the press announcement today.