Annual Report 2011/12 - International Entertainment Corporation

Report of the DirectorsThe Directors present their annual report and the audited consolidated financial statements of the Group for the year ended31 March 2012.PRINCIPAL ACTIVITIESThe Company acts as an investment holding company. The activities of its principal subsidiaries are set out in note 36 to theconsolidated financial statements.RESULTS AND APPROPRIATIONSThe results of the Group for the year ended 31 March 2012 are set out in the consolidated income statement andconsolidated statement of comprehensive income on pages 28 to 29.The board of Directors (the “Board”) does not recommend the payment of any dividend for the year ended 31 March 2012(2011: interim dividend of HK$0.50 per ordinary share of HK$1.00 each in the share capital of the Company (the “Share”),final dividend of HK$0.14 per Share and special dividend of HK$0.61 per Share).MAJOR CUSTOMERS AND SUPPLIERSThe aggregate percentage of sales attributable to the Group’s largest customer and five largest customers accounted forapproximately 68% and 71% respectively of the Group’s total revenue for the year.The aggregate percentage of purchases attributable to the Group’s largest supplier and five largest suppliers accounted forapproximately 16% and 38% respectively of the Group’s total purchases for the year.At no time during the year did a Director, an associate of a Director or a Shareholder (which to the knowledge of theDirectors owns more than 5% of the Company’s issued share capital) has an interest in any of the Group’s five largestsuppliers or customers.FINANCIAL SUMMARYA summary of the results, assets and liabilities of the Group for the last five financial years is set out on page 89.PROPERTY, PLANT AND EQUIPMENT AND INVESTMENT PROPERTIESDetails of the movements in the property, plant and equipment and investment properties of the Group during the year areset out in notes 16 and 17 respectively to the consolidated financial statements.PRINCIPAL PROPERTIES OWNED BY THE GROUPParticulars of the principal properties of the Group are set out on page 90.SHARE CAPITALDetails of the movements in the share capital of the Company during the year are set out in note 27 to the consolidatedfinancial statements.International Entertainment Corporation - Annual Report 2011/12 13