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LUEN THAI<00311> - Results Announcement

Luen Thai Holdings Limited announced on 21/04/2005:
(stock code: 00311 )
Year end date: 31/12/2004
Currency: USD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2004    from 01/01/2003
                                     to 31/12/2004      to 31/12/2003
                               Note  ('000      )       ('000      )
Turnover                           : 553,766            544,924           
Profit/(Loss) from Operations      : 38,363             33,994            
Finance cost                       : (1,432)            (1,362)           
Share of Profit/(Loss) of 
  Associates                       : 529                681               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : (829)              18                
Profit/(Loss) after Tax & MI       : 30,361             23,566            
% Change over Last Period          : +28.8     %
EPS/(LPS)-Basic (in dollars)       : 0.039              0.035             
         -Diluted (in dollars)     : 0.039              0.035             
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 30,361             23,566            
Final Dividend                     : US$0.0052          N/A
  per Share                                              
(Specify if with other             : N/A                N/A
  options)                                               
                                                         
B/C Dates for 
  Final Dividend                   : 31/05/2005         to 03/06/2005 bdi.
Payable Date                       : 07/06/2005
B/C Dates for Annual         
  General Meeting                  : 31/05/2005         to 03/06/2005 bdi.
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A   
  
Remarks:


(1)  Listing date and basis of presentation of results
                
The Company's shares were listed on the Stock Exchange on 15th July 2004.

On 27th June 2004, pursuant to a group reorganisation (the "
Reorganisation") in preparation for the listing of the shares of the 
Company on the Main Board of The Stock Exchange of Hong Kong Limited (the 
"Stock Exchange"), the Company acquired the entire issued share capital of 
Luen Thai Overseas Limited ("LTO") through a share exchange and became the 
holding company of LTO and its subsidiaries.  Details of the 
Reorganisation are set out in the prospectus of the Company dated 
30th June 2004. 
        
The Reorganisation is accounted for using the merger accounting as 
permitted by the Statement of Standard Accounting Practice ("SSAP") 
Number 27 "Accounting for group reconstructions" issued by HKICPA.  The 
consolidated accounts of the Group for the year ended 31st December 2004, 
including the comparative figures, are prepared as if the Company had been 
the holding company of the Group from the beginning of the earliest period 
presented.


(2)  Turnover

The Group is principally engaged in the manufacturing and trading of 
garment and textile products, the provision of freight forwarding and 
logistic and system consultancy services. Revenues recognised during the 
year are as follows:

                                        2004            2003
                                        US$'000         US$'000
                        
Turnover -              

Sales of garment and textile products           
 - third parties                        537,933         512,722
 - a jointly controlled entity            3,465              -

Provision for freight forwarding and logistic services          
 - third parties                         10,659          29,177
 - related companies and a jointly controlled entity    
                                          1,414           2,463

Provision for system consultancy services       
                                            295             562
                                        ------------    -----------
                                        553,766         544,924
                                        ============    ===========
        
(3)  Basis of calculation for basic EPS and diluted EPS of the current 
period (or an appropriate negative statement for diluted EPS)

The basic earnings per share is calculated based on the Group's profit 
attributable to shareholders of approximately US$30,361,000 (2003: 
US$23,566,000) and weighted average number of approximately 780,117,000 
(2003: 675,000,000) ordinary shares deemed to be in issue throughout the 
year on the assumption that the Reorganisation had been completed on 
1st January 2003. 

The Company has no dilutive potential ordinary shares as at 
31st December 2004.