Final Results

Hidong Estate PLC
21 July 2003

 
Hidong Estate PLC 
Preliminary Final Results
(Incorporated in England)

Profit and loss account for the 
year ended 31st March, 2003
                                                         Continuing Operations
 
                                                           2003         2002 
                                                            RM           RM

 

Turnover                                                 1,405,971   1,019,111
Cost of sales - including replanting expenditure
of RM115,790 (2002: RM138,612)                          (1,112,592) (1,087,550)
Gross Profit/Loss)                                         293,379     (68,439)

Distribution costs                                        (73,924)     (72,724)
Administrative expenses                                  (135,542)     (96,604)
                                                           83,913     (237,767)
 
Other income                                                  -          1,188
Operating profit/(loss)                                    83,913     (236,579) 
Profit on disposal of tangible fixed assets                   -          3,598
Tangible fixed assets written off                          (1,893)         -
Interest receivable on short term deposits                  5,589        6,139
profit/(loss) on ordinary activities before taxation       87,609     (226,842)

Tax on profit on ordinary activities                       (1,057)         -

RETAINED PROFIT/(LOSS) FOR THE YEAR                        86,552     (226,842)

Profit/(loss) per 10p share                               5.05sen    (13.23sen)
 
STATEMENT OF TOTAL RECOGNISED 
GAINS AND LOSSES FOR THE YEAR ENDED 31 MARCH 2003
 
                                                            2003       2002
                                                             RM         RM
Surplus on revaluation of properties                     1,190,000       -
Deferred tax liability                                    (306,500)      -
Net gains not recognised in the profit and loss account    883,500       -

Net profit/(loss) for the year                              86,552   (226,842)
Total recognised gains/(losses) for the year               970,052   (226,842

Balance Sheet as at 31st March, 2003
 
                                                            2003       2002 
                                                             RM         RM

 
FIXED ASSETS                                             
Tangible assets                                          7,656,556  6,490,959

CURRENT ASSETS
Stocks                                                     100,670    106,095
Debtors                                                    102,745     54,504
Cash at bank and in hand                                   348,822    298,728
Tax refundable                                              63,619     58,177
                                                           615,856    517,504

CREDITORS: amounts falling due within one year            (170,846)  (189,955)           

NET CURRENT ASSETS                                         445,010    327,549
TOTAL ASSETS LESS CURRENT LIABILITIES                    8,101,566  6,818,508

PROVISION FOR LIABILITIES AND CHARGES                     (530,155)  (217,149)

NET ASSETS                                               7,571,411  6,601,359
 
CAPITAL AND RESERVES
Called up share capital                                  1,067,846  1,067,846
Revaluation reserve                                      5,832,048  4,948,548 
Profit and loss account                                    671,517    584,965
 
TOTAL EQUITY SHAREHOLDERS' FUNDS                         7,571,411  6,601,359

Cash flow statement for the year 
ended 31st March, 2003
 
                                                            2003      2002 
                                                             RM        RM


NET CASH INFLOW/(OUTFLOW) FROM 
  OPERATING ACTIVITIES                                      54,256   (82,860)

RETURNS ON INVESTMENTS AND 
 SERVICING OF FINANCE
Interest received                                            5,589     6,139

TAXATION
Overseas tax paid                                           (6,499)   (5,500)

CAPITAL EXPENDITURE
Sale of fixed assets                                             -      3600
Purchase of tangible fixed assets                           (3,252)   (1,620)
                                                            (3,252)    1,980

NET CASH INFLOW/(OUTFLOW) BEFORE 
 MANAGEMENT OF LIQUID RESOURCES                             50,094   (80,241)

MANAGEMENT OF LIQUID RESOURCES
Decrease in short term deposits                              5,000   120,000
INCREASE IN CASH                                            55,094    39,759
 
The financial information set out above does not constitute statutory accounts
for the years ended 3lst March 2003 or 2002 but derived from those accounts.
Statutory accounts for 2002 have been delivered to the Registrar of Companies,
and those for 2003 will be delivered following the Company's annual general
meeting. The auditors have reported on those accounts, their report were
unqualified and did not contain statements under Section 237(2) or (3) of the
Companies Act 1985.




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