Eng - IOI Group

directors’reportThe Directors of IOI Corporation Berhad have pleasure in submitting their report and the audited financial statements ofthe Group and of the Company for the financial year ended 30 June 2003.PRINCIPAL ACTIVITIESThe principal activities of the Company consist of investment holding and the cultivation of oil palm and rubber andprocessing of palm oil and rubber.The principal activities of the subsidiaries and associates are set out in Note 44 to the financial statements.There have been no significant changes in the nature of the activities of the Group and of the Company during thefinancial year except for the acquisition of Loders Croklaan B. V. and the related businesses as disclosed in Note 34.1 tothe financial statements.FINANCIAL RESULTSThe audited results of the Group and of the Company for the financial year ended 30 June 2003 are as follows:In RM’000GroupCompanyProfit before taxation 812,626 203,687Taxation (161,093) (55,306)Profit after taxation 651,533 148,381Minority interests (149,481) -Net profit attributable to shareholders 502,052 148,381DIVIDENDSA final dividend of 18% less income tax in respect of the financial year ended 30 June 2002 amounting to RM57,167,507was paid on 6 November 2002 as dealt with in the Directors’ Report of that financial year. In addition, the Company paidan amount of RM2,738,831 in respect of the same dividend payment to account for the issue of 45,688,918 new sharesarising from the exercise of options granted under the Executive Share Option Scheme and warrants and net of the buyback of 3,423,000 shares subsequent to the financial year-end but before the book closure for dividend entitlement.IOI Corporation BerhadAnnual Report 2003114On 18 February 2003, the Directors declared an interim dividend of 20% less income tax amounting to RM74,934,674 inrespect of the financial year ended 30 June 2003. The dividend was paid on 25 April 2003, to shareholders whose namesappear in the Record of Depositors at the close of business on 15 April 2003.