CHEVALIER CONS<0579> - Results Announcement (Summary)

Chevalier Construction Holdings Limited announced on 10/7/2001:
(stock code: 579)
Year end date: 31/3/2001
Currency: HK Dollar                                         (Audited)
                                           (Audited)        Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/4/2000    from 1/4/1999
                                           to 31/3/2001     to 31/3/2000
                                           ('000)           ('000)
Turnover                                 : 1,226,463        2,390,937
Profit/(Loss) from Operations            : (29,828)         9,928
Finance cost                             : (1,454)          (5,626)
Share of Profit/(Loss) of Associates     : 2,314            3,205
Share of Profit/(Loss) of
  Jointly Controlled Entities            : (518)            (231)
Profit/(Loss) after Tax & MI             : (27,657)         7,818
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (11.66 cents)    3.41 cents
         -Diluted                        : -                -
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (27,657)         7,818
Final Dividend per Share                 : NIL              NIL
(Specify if with other options)          : -                -
B/C Dates for Final Dividend             : -
Payable Date                             : -
B/C Dates for (-) General Meeting        : -
Other Distribution for Current Period    : -
B/C Dates for Other Distribution         : -

Remarks:

1. TURNOVER AND SEGMENTAL INFORMATION

                        TURNOVER                OPERATING (LOSS)        
                                                PROFIT AFTER 
                                                FINANCE COST    
                2001            2000            2001            2000    
                HK$'000         HK$'000         HK$'000         HK$'000

Turnover represents the aggregate of revenue recognised on:             
Building construction           
                978,430         2,022,173       (16,827)        3,291   
Building maintenance
                750             18,780          719             1,547   
Civil engineering services
                247,283         349,984         (15,174)        (536)   
                -----------------------------------------------------
                1,226,463       2,390,937       (31,282)        4,302   
                =====================================================

2. (LOSS) EARNING PER SHARE

The calculation of the basic (loss) earnings per share is based on the net 
loss for the year of HK$27,657,000 (2000: profit of HK$7,818,000) and on 
weighted average 237,219,178 (2000: 229,000,000) shares in issue during 
the year.

Diluted loss per share is not presented for the current year as the effect 
of exercise of the share options would be anti-dilutive in respect of the 
year.

Diluted earnings per share for 2000 was not presented as the exercise 
price of the outstanding share options was higher than the fair value per 
share and accordingly the computation of diluted profit per share did not 
assume their exercise.

3. Certain comparative figures have been reclassified to conform with 
current year's presentation.