Notes to the Financial Statements - Kenford.com.hk

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Notes to the Financial Statements For the year ended 31 March 2006 10. TAX EXPENSE (Continued) The tax expense for the year can be reconciled to the profit per the consolidated income statement as follows: 2006 2005 HK$’000 HK$’000 Profit before tax 4,748 62,760 Tax calculated at the domestic income tax rate of 17.5% 831 10,983 Effect of different tax rates of a subsidiary operating in other jurisdiction (100) – Tax concessions of a PRC subsidiary (49) – Tax effect of income that is not taxable in determining taxable profit (note (i)) (921) (5,543) Tax effect of expense that is not deductible for tax purpose 881 62 Over provision of deferred tax liability in prior years (41) (145) Income tax expense 601 5,357 Note: (i) This amount mainly represents the tax effect of the 50% of assessable profit of a subsidiary, Kenford Industrial Company Limited (“Kenford HK”) which were exempted under Departmental Interpretation of Practice Notes 21 issued by the Inland Revenue Department of Hong Kong. 11. DIVIDENDS 2006 2005 HK$’000 HK$’000 Interim, paid HK$0.01 (2005: Nil) per share 4,000 – Special, paid HK$Nil (2005: HK$0.1) per share (note (i)) – 40,000 Final, proposed HK$0.003 (2005: Nil) per share (note (ii)) 1,200 – 5,200 40,000 Notes: (i) The amount represented dividend declared by a subsidiary of the Group to its then shareholders before the group reorganisation. (ii) The directors recommended a final dividend of HK$0.003 per share. This proposed dividend is not reflected as a dividend payable at 31 March 2006, but is reflected as an appropriation of retained profits for the year ended 31 March 2006. Annual Report 2006 49
Notes to the Financial Statements For the year ended 31 March 2006 12. EARNINGS PER SHARE The calculation of the basic and diluted earnings per share attributable to the ordinary equity holders of the Company is based on the following data: Year ended 31 March 2006 2005 HK$’000 HK$’000 Earnings: Earnings for the purposes of basic and diluted earnings per share (profit for the year attributable to equity holders of the Company) 4,147 57,403 Number of shares: Weighted average number of ordinary shares for the purpose of basic earnings per share 378,904 300,000 Effect of dilutive potential ordinary shares: Share options 1,679 N/A Weighted average number of ordinary shares for the purpose of diluted earnings per share 380,583 N/A The diluted earnings per share for the year ended 31 March 2005 have not been calculated as no diluting events existed during the year. 13. EMOLUMENTS FOR DIRECTORS AND FIVE HIGHEST PAID INDIVIDUALS (a) Directors’ emoluments: 2006 2005 HK$’000 HK$’000 Fees 228 – Salaries, allowances and other benefits 5,487 3,705 Discretionary bonuses – 195 Retirement benefits scheme contributions 36 36 5,751 3,936 50 KENFORD GROUP HOLDINGS LIMITED
Page 1 and 2: (Incorporated in the Cayman Islands
Page 3 and 4: Corporate Information DIRECTORS Exe
Page 5 and 6: Chairman’s Statement PROSPECT Loo
Page 7 and 8: Management Discussion and Analysis
Page 9 and 10: Report of The Directors The board o
Page 11 and 12: Report of The Directors DIRECTORS
Page 13 and 14: Report of The Directors SUBSTANTIAL
Page 15 and 16: Report of The Directors SHARE OPTIO
Page 17 and 18: Report of The Directors SHARE OPTIO
Page 19 and 20: Report of The Directors TAXATION OF
Page 21 and 22: Directors’ and Senior Management
Page 23 and 24: Corporate Governance Report CORPORA
Page 25 and 26: Corporate Governance Report BOARD O
Page 27 and 28: Corporate Governance Report AUDIT C
Page 29 and 30: Auditors’ Report TO THE SHAREHOLD
Page 31 and 32: Consolidated Balance Sheet As at 31
Page 33 and 34: Consolidated Cash Flow Statement Fo
Page 35 and 36: Notes to the Financial Statements F
Page 49: Notes to the Financial Statements F
Page 73: Five Years Financial Summary CONSOL

Notes to the Financial Statements - Kenford.com.hk

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