09:01     SWANK INT'L MFG<00663> - Results Announcement (1)                   

    Swank International Manufacturing Co Ltd announced on 22/04/2005:         
    (stock code: 00663 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Qualified                                               
                                                                              
                                                            (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                           : 174,890            192,236           
    Profit/(Loss) from Operations  1.1 : 2,467              (22,489)          
    Finance cost                    1  : (13,567)           (15,076)          
    Share of Profit/(Loss) of                                                 
      Associates                   2.2 : 2,791              1,727             
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : (5,768)            (7,054)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)    3  : (0.002)            (0.01)            
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (5,768)            (7,054)           
    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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.      Profit/(Loss) from Operations                                     
                                                                              
                                    Note    2004            2003              
                                            HK$'000         HK$'000           
                                                                              
    Turnover                        1.1     174,890         192,236           
    Cost of sales                           (156,632)       (168,484)         
                                            -----------     -----------       
    Gross profit                            18,258          23,752            
    Other revenue                           2,866           3,238             
    Selling and distribution costs          (14,304)        (18,516)          
    Administrative expenses                 (14,220)        (20,675)          
    Reversal of impairment loss upon disposal of interests in associates      
                                                                              
                                            4,700           -                 
    Waiver of amounts due to associates upon disposal of interests in         
    associates                              6,200           -                 
    Other operating expenses                (1,033)         (10,288)          
                                            ------------    -----------       
    Profit/(loss) from operating activities  2,467          (22,489)          
                                                                              
                                                                              
    1.1     Turnover                                                          
                                                                              
    Turnover represents the net invoiced value of goods sold, net of returns  
    and allowances.                                                           
                                                                              
                    In accordance with the requirements of SSAP 26 "Segment   
    reporting", the Group has determined that business segments are its       
    primary reporting format and geographical segments are its secondary      
    reporting format.                                                         
                                                                              
                    The Group is principally engaged in the manufacture and   
    sale of optical products.  The Company regard these segments as the       
    primary source of the Group's risks and returns.  The secondary segment   
    format, representing the principal markets of the Group's products, is    
    mainly divided into five geographical areas, namely the United States of  
    America, Europe, Hong Kong, Mainland PRC and others.                      
                                                                              
            i)   Business segments                                            
                                                                              
    The Group has only one business segment and is the manufacture and sale of
    optical products. Therefore, no separate analysis of business segment     
    information is prepared as all the information has been disclosed in the  
    consolidated financial statements.