FEDERAL INTERNATIONAL (2000) LTD

FEDERAL INTERNATIONAL (2000) LTD

Half Year Financial Statement And Dividend Announcement

Half-year financial statement on consolidated results for the six months ended 30 June 2000.
These figures have not been audited.
- -
Group
Company
-- --
S$'000
%
S$'000
%
- -
Latest half year
30/06/2000
Previous half year
30/06/1999
Change
Latest half year
30/06/2000
Previous half year
30/06/1999
Change
1.(a) Turnover
35,507
43,766
(18.87)
0
0
n.m.
1.(b) Investment income
0
0
n.m.
0
0
n.m.
1.(c) Other income including interest income
807
266
203.38
314
0
n.m.
2.(a) Operating profit/(loss) before income tax, minority interests, extraordinary items, interest on borrowings, depreciation and amortisation, foreign exchange gain/(loss) and exceptional items
3,779
4,659
(18.89)
0
0
n.m.
2.(b)(i) Interest on borrowings
(335)
(284)
17.96
0
0
n.m.
2.(b)(ii) Depreciation and amortisation
(227)
(282)
(19.50)
0
0
n.m.
2.(b)(iii) Foreign exchange gain/(loss)
197
313
(37.06)
0
0
n.m.
2.(c) Exceptional items
0
0
n.m.
0
0
n.m.
2.(d) Operating profit before income tax, minority interests and extraordinary items but after interest on borrowings, depreciation and amortisation, foreign exchange gain/(loss) and exceptional items
3,414
4,406
(22.51)
0
0
n.m.
2.(e) Income derived from associated companies
(173)
(137)
26.28
0
0
n.m.
2.(f) Less income tax
(920)
(1,342)
(31.45)
0
0
n.m.
2.(g)(i) Operating profit after tax before deducting minority interests
2,321
2,927
(20.70)
0
0
n.m.
2.(g)(ii) Less minority interests
0
0
n.m.
0
0
n.m.
2.(h) Operating profit after tax attributable to members of the company
2,321
2,927
(20.70)
0
0
n.m.
2.(i)(i) Extraordinary items
0
0
n.m.
0
0
n.m.
2.(i)(ii) Less minority interests
0
0
n.m.
0
0
n.m.
2.(i)(iii) Extraordinary items attributable to members of the company
0
0
n.m.
0
0
n.m.
2.(i)(iv) Transfer to/from Exchange Reserve
0
0
n.m.
0
0
n.m.
2.(i)(v) Transfer to Capital Reserve
0
0
n.m.
0
0
n.m.
2.(i)(vi) Transfer to Reserve Fund
0
0
n.m.
0
0
n.m.
2.(j) Operating profit after tax and extraordinary items attributable to members of the company
2,321
2,927
(20.70)
0
0
n.m.

Note

1) The half-year consolidated financial statement for the periods under review have been prepared as if the group structure as set out in page 34 of the Company's Prospectus dated 29 August 2000 has been in existence throughout the periods or since the dates of incorporation of the companies in the Group.

2) As the Company was only incorporated on 13 November 1999, no comparative figures for the half year 30 June 1999 are available.

3) Other income at Company level of $314,000 represents management fees charged to the subsidiaries and associated company of the Company.

Group Figures
Latest half year
30/06/2000
Previous half year
30/06/1999
3.(a) Earnings per share based on 2(h) above after deducting any provision for preference dividends:-
.
.
3.(a)(i) Based on existing issued share capital (1)
1.77
2.23
3.(a)(ii) On a fully diluted basis (2)
1.32
1.67
3.(b) Earnings per share based on 2(j) above:-
(i) Based on existing issued share capital (1)
1.77
2.23
(ii) On a fully diluted basis (2)
1.32
1.67
3.(c) Net tangible asset backing per ordinary share (3)
23.47
16.52

Note


(1) The earnings per share for the periods under review is calculated based on the pre-floatation share capital and after the sub-division of each ordinary share of $1.00 into five ordinary shares of $0.20 of 131,243,875 shares.

(2) The earnings per share on a fully diluted basis for the periods under review is calculated based on post-floatation share capital and after the sub-division of each ordinary share of $1.00 into five ordinary shares of $0.20 of 175,243,875 shares.

(3) The net tangible asset per share is calculated based on the pre-floatation share capital and after the sub-division of each ordinary share of $1.00 into five ordinary shares of $0.20 of 131,243,875 shares.
4.(a) Amount of any adjustment for under or overprovision of tax in respect of prior years


4.(b) Amount of any pre-acquisition profits


4.(c) Amount of profits on any sale of investments and/or properties



















4.(d) Any other comments relating to Paragraph 4 5.(a) Review of the performance of the company and its principal subsidiaries
5.(b) A statement by the Directors of the Company on whether "any item or event of a material
6. Commentary on current year prospects 7. Dividend

(c) Date payable



(d) Books closing date



(e) Any other comments relating to Paragraph 7
8. Details of any changes in the company's issued share capital 9. Comparative figures of the group's borrowings and debt securities

(a) Amount repayable in one year or less, or on demand

(b) Amount repayable after one year

(c) Any other comments relating to Paragraph 9

10. Balance sheet
NIL



BY ORDER OF THE BOARD

Koh Kian Kiong
Director/Chief Executive Officer
26/09/2000