Hidong Est. Regulatory News (HID)

27 Dec 2006 07:01

Hidong Estate PLC27 December 2006 Hidong Estate PLC(Incorporated in England)-------------------------------------------------------------------------------- Interim Report of ShareholdersHalf Year Ended 30th September, 2006 The estimated results for the half year ended 30th September, 2006 are givenbelow with appropriate comparative figures:- Half year Half year Year ended ended ended 30 Sept, 30 Sept, 31 Mar, 2006 2005 2006 RM RM RMTurnover - discontinued operations - 1,166,615 1,740,941 Cost of sales - (769,850) (1,245,907) Gross profit/(loss) - 396,765 495,034Distribution costs - (57,357) (85,199)Administrative (96,621) (119,949) (228,719)expenses Other income 5,240 - 16,571Operating profit/(loss) - (91,381) 228,016 197,687discontinued operations Profit on sale of plantation - - 8,260,363Interest receivable on 172,202 - 75,973short term depositsProfit on ordinaryactivitiesbefore taxation 80,821 228,016 8,534,023Tax on profit on - - (572,435)ordinary activitiesRETAINED PROFIT FOR THE YEAR 80,821 228,016 7,961,588 Earnings per 10p share 4.72 sen 13.31 sen 464.68 sen STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES The Company has no recognised gains and losses other than the gain of RM80,821for the six months period ended 30th September, 2006 (2005: gain RM228,016). Notes: 1. The Company reported an operating profit of RM80,821 for the half year ended 30th September, 2006 2. The directors do not propose to pay any interim dividend (last year - nil) 3. A copy of this report will be sent to shareholders and will be available for inspection at the Company's registered office, 34 Beckenham Road, Beckenham, Kent, BR3 4TU. CHEW SING GUANPenang Chairman27th December 2006 Balance Sheetas at 30th September, 2006 Half year Half year Year ended ended ended 30 Sept, 30 Sept, 31 Mar, 2006 2005 2006 RM RM RMFIXED ASSETSTangible assets - 7,662,491 - CURRENT ASSETSStocks 29,946 121,278 41,032Debtors 191,099 348,787 218,203 Cash at bank and in hand 10,905,456 1,061,871 10,944,672Tax refundable - 38,886 - 11,126,501 1,570,822 11,203,907CURRENT LIABILITIESCreditors : Amounts fallingdue within one Year (730,501) (262,027) (888,727)NET CURRENT ASSETS 10,396,000 1,308,795 10,315,180 TOTAL ASSETS LESSCURRENT LIABILITIES - 8,971,286 -PROVISION FOR LIABILITIESAND CHARGES - (557,630) -NET ASSETS 10,396,000 8,413,656 10,315,180 CAPITAL AND RESERVESCalled up share capital 1,067,846 1,067,846 1,067,846Revaluation reserve - 5,832,048 -Profit and loss account 9,328,154 1,513,762 9,247,334TOTAL EQUITY SHAREHOLDERS'FUNDS 10,396,000 8,413,656 10,315,180 These financial statements were approved by the Board of Directors on 27thDecember 2006. CHEW SING GUAN ) ) ) DirectorsZAMBRI BIN HAJI MAHMUD ) Reconciliation of Operating (Loss) / Profit to Net Cash outflow from OperatingActivities Half year Half year Year ended ended ended 30 Sept, 30 Sept, 31 Mar, 2006 2005 2006 RM RM RMOperating profit/(loss) (91,381) 228,016 197,687 Depreciation charge - 15,441 9,359Provision for service gratuity benefits - (5,556) -(Increase) / Decrease in stocks 11,086 31,629 118,875(increase) / Decrease in debtors 27,104 (130,374) 210Increase/(Decrease) in creditors (119,567) (53,516)(247,665) (172,758) 85,640 71,466 Cash flow statement for the Half year Ended 30th September, 2006 Half year Half year Year ended ended ended 30 Sept, 30 Sept, 31 Mar, 2006 2005 2006 RM RM RMNET CASH INFLOW/(OUTFLOW)OPERATING ACTIVITIES (172,758) 85,640 71,466 RETURNS ON INVESTMENTS AND SERVICING OF FINANCEInterest received 172,202 - 75,973 TAXATIONOverseas tax paid (38,660) (38,682) (80,775) CAPITAL EXPENDITUREPurchase of tangible fixed assets - (650)Proceeds from disposal of property,plant and equipment - 9,863,745 NET CASH INFLOW/ (OUTFLOW)BEFORE MANAGEMENT OFLIQUID RESOURCES (39,216) 46,958 9,929,759 MANAGEMENT OF LIQUID RESOURCES (Increase)/Decrease in short term deposits (201,792) 50,000 (9,673,359) INCREASE/(DECREASE) IN CASH (241,008) 96,958 256,400 This information is provided by RNS The company news service from the London Stock Exchange