CHEVALIER CONS<00579> - Results Announcement (Summary)
Chevalier Construction Holdings Limited announced on 11/7/2002:
(stock code: 579)
Year end date: 31/3/2002
Currency: HK dollar
Auditors' Report: Unqualified
Review of Interim Report by: N/A
(Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2001 from 1/4/2000
to 31/3/2002 to 31/3/2001
('000) ('000)
Turnover : 526,927 1,226,463
Profit/(Loss) from Operations : 6,514 (29,828)
Finance cost : (820) (1,454)
Share of Profit/(Loss) of Associates : 2,098 2,314
Share of Profit/(Loss) of
Jointly Controlled Entities : (416) (518)
Profit/(Loss) after Tax & MI : 6,723 (27,657)
% Change over Last Period : N/A
EPS/(LPS)-Basic : 2.7 cents (11.66 cents)
-Diluted : - -
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 6,723 (27,657)
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 SEGMENT INFORMATION
Turnover and segment information for the year ended 31st March, 2002.
Building
construction Civil Consolidated
& maintenance engineering Total
HK$'000 HK$'000 HK$'000
TURNOVER
External sales 397,598 129,329 526,927
====== ====== ======
RESULT
Segment result 28,346 (19,708) 8,638
====== ======
Unallocated corporate expenses (2,873 )
Interest income 749
---------
Profit from operations 6,514
Interest expenses (820 )
Share of results of an associate 2,098
Share of results of jointly controlled entities
(396 ) (20) (416)
---------
Profit before taxation 7,376
Taxation (526 )
---------
Profit after taxation 6,850
======
All activities of the group were carried out in Hong Kong.
1. TURNOVER AND SEGMENT INFORMATION
Turnover and segment information for the year ended 31st March, 2001.
Building
construction Civil Consolidated
& maintenance engineering Total
HK$'000 HK$'000 HK$'000
TURNOVER
External sales 979,180 247,283 1,226,463
====== ====== ======
RESULT
Segment result (12,734 ) (15,396) (28,130)
====== ======
Unallocated corporate expenses (3,209 )
Interest income 1,511
----------
Loss from operations (29,828 )
Interest expenses (1,454)
Gain on disposal of interest in an associate 2,284
Share of results of associates
Civil engineering (1,171) (1,171)
Unallocated 3,485
Share of results of jointly controlled entities
(412 ) (106 ) (518 )
---------
Loss before taxation (27,202 )
Taxation (542 )
--------
Loss after taxation (27,744 )
======
All activities of the group were carried out in Hong Kong.
2. PROFIT (LOSS) FROM THE OPERATIONS
2002 2001
HK$'000 HK$'000
Profit (Loss) from operations has been arrived at after charging :
Depreciation :
Owned assets 4,221 5,789
Assets held under finance leases 122 152
Less: Amount capitalised to contract work (3,134 ) (4,543)
_____ _____
1,209 1,398
===== =====
Operating lease charges:
Premises 2,739 3,414
Plant and machinery 69,784 119,398
Less: Amount capitalised to contract work (69,859 ) (119,555)
______ _______
2,664 3,257
===== ======
Staff costs, including directors' emoluments 81,864 136,438
Less: Amount capitalised to contract work (54,343 ) (99,714 )
______ _______
27,521 36,724
===== ======
3. EARNINGS (LOSS) PER SHARE
The calculation of the basic earnings (loss) per share is based on the net
profit for the year of HK$6,723,000 (2001: net loss of HK$27,657,000) and
on 249,000,000 (2001: weighted average of 237,219,178) shares in issue
during the year.
Diluted earnings per share is not presented as the exercise price of the
share options outstanding during the year is higher than the fair value
per share and accordingly the computation of diluted earnings per share
does not assume their exercise.
Diluted loss per share for 2001 was not presented as the effect of
exercise of the share options would be anti-dilutive in respect of the
year.
4. COMPARATIVE FIGURES
Certain comparative figures have been reclassified to conform with
current year's presentation.
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