HK's C.P. Pokphand FY Net Loss $26.9M Vs $91.2M Loss
Dow Jones Newswires
April 26, 1999
C.P. Pokphand Co. - Hong Kong
Year Dec. 31:
1998 1997
After-Tax Profit (US$26,889,000) a-(US$91,222,000)
Revenue 1,452,668,000 1,825,631,000
Per Share
Earnings (1.25 cents) (4.97 cents)
Full-Yr Div Omitted 19.2 cents
Figures in parentheses are losses.
The company paid no interim dividend in latest period.
a- Earnings in 1997 were adjusted to account for the adoption of international accounting standards concerning the amortization of losses.
HONG KONG -- C.P. Pokphand Co. said Monday it saw a net loss in 1998 of US$26.9 million, an improvement from its net loss of US$91.2 million in 1997.
Revenue fell 20% in 1998, to US$1.452 billion, from US$1.826 billion a year earlier.
The company didn't pay a dividend in 1998; in 1997, it paid a dividend of 19.2 U.S. cents.
The narrower losses came in part on a gain in earnings from associated companies, which contributed US$11.7 million. In 1997, associated companies contributed a loss of US$74.8 million.
C.P. Pokphand, an agricultural and manufacturing company, said that it had adopted international accounting standards in 1998, which required it to adjust its results for 1997. Originally, the company booked a net loss of US$107.3 million for 1997.
Copyright, The Wall Street Journal Online, April 26, 1999 |
