CHEVALIER CONS<00579> - Results Announcement
Chevalier Construction Holdings Limited announced on 16/07/2003:
(stock code: 00579 )
Year end date: 31/03/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/04/2002 from 01/04/2001
to 31/03/2003 to 31/03/2002
Note ('000 ) ('000 )
Turnover : 225,498 526,927
Profit/(Loss) from Operations : 18,043 6,514
Finance cost : (15) (820)
Share of Profit/(Loss) of
Associates : 1,946 2,098
Share of Profit/(Loss) of
Jointly Controlled Entities : (743) (416)
Profit/(Loss) after Tax & MI : 7,418 6,723
% Change over Last Period : +10.34 %
EPS/(LPS)-Basic (in dollars) : 0.0298 0.027
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 7,418 6,723
Final Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. TURNOVER
Turnover and segment information for the year ended 31st March, 2003
Building
construction Civil Consolidated
& maintenance engineering Total
HK$'000 HK$'000 HK$'000
TURNOVER
External sales 81,615 143,883 225,498
====== ====== ======
RESULT
Segment result 52,355 (34,275) 18,080
====== ========
Unallocated corporate expenses (1,504)
Interest income 1,038
Unrealised gain on other investment 429
--------
Profit from operations 18,043
Interest expenses (15)
Share of results of an associate 1,946
Share of results of jointly
controlled entities (199) (544) (743)
--------
Profit before taxation 19,231
Taxation (11,627 )
---------
Profit after taxation 7,604
======
All activities of the Group were carried out in Hong Kong.
Turnover and segment information for the year ended 31st March, 2002
Building
construction Civil Consolidated
& maintenance engineering Total
HK$'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.
2. PROFIT FROM OPERATIONS
2003 2002
HK$'000 HK$'000
Profit from operations has been arrived at after charging :
Depreciation :
Owned assets 1,981 4,221
Assets held under finance leases 16 122
Less: Amount capitalised to
contract work (1,192 ) (3,134 )
_______ _______
805 1,209
======= =======
Operating lease charges:
Premises 2,308 2,739
Plant and machinery 45,748 69,784
Less: Amount capitalised to
contract work (45,748 ) (69,859 )
_______ _______
2,308 2,664
======= =======
Staff costs, including directors'
emoluments 48,121 81,864
Less: Amount capitalised to contract
work (29,225 ) (54,343 )
_______ _______
18,896 27,521
======= =======
3. EARNINGS PER SHARE
The calculation of the basic earnings per share is based on the net profit
for the year of HK$7,418,000 (2002: HK$6,723,000) and on 249,000,000
(2002: 249,000,000) shares in issue during the year.
Diluted earnings per share for 2002 was not presented as the exercise
price of the share options outstanding during that year was higher than
the fair value per share and accordingly the computation of diluted
earnings per share did not assume their exercise.
All share options lapsed in the year 2001.
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