PME<00379> - Results Announcement

PME Group Limited announced on  23/9/2003:
(stock code: 00379 )
Year end date: 31/12/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 1/1/2003      from 1/1/2002  
                                     to 30/6/2003       to 30/6/2002  
                               Note  ('000      )       ('000      )
Turnover                           : 55,775             48,551            
Profit/(Loss) from Operations      : 11,275             11,709            
Finance cost                       : (682)              (1,304)           
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : 8,788              8,590             
% Change over Last Period          : +2.3      %
EPS/(LPS)-Basic (in dollars)       : 0.011              0.0126            
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 8,788              8,590             
Interim Dividend                   : 0.3 cent           N/A               
  per Share                                                               
(Specify if with other             : N/A                N/A               
B/C Dates for 
  Interim Dividend                 : 22/10/2003         to 24/10/2003bdi.
Payable Date                       : 5/11/2003 
B/C Dates for (-)            
  General Meeting                  : N/A          
Other Distribution for             : N/A           
  Current Period                     
B/C Dates for Other 
  Distribution                     : N/A          


1. Group restructuring and basis of preparation of financial statements

The Company was incorporated as an exempted company with limited liability 
in the Cayman Islands on 27 February 2002 under the Companies Law 
(Revised) Chapter 22 of the Cayman Islands.

Pursuant to a group reorganisation (the "Group Reorganisation") to 
rationalise the structure of the Company and its subsidiaries (hereinafter 
collectively referred to as the "Group") in preparation for the listing of 
the Company's shares on the Main Board of The Stock Exchange of Hong Kong 
Limited (the "Stock Exchange"), the Company issued shares in exchange for 
the entire issued share capital of PME International (BVI) Company 
Limited, the previous holding company of the Group, and thereby became the 
holding company of the Group on 23 October 2002.

The shares of the Company have been listed on the Stock Exchange with 
effect from 13 November 2002.

The Group resulting from the Group Reorganisation is regarded as a 
continuing entity. Accordingly, the consolidated financial statements have 
been prepared using the principles of merger accounting in accordance with 
Statement of Standard Accounting Practice 27 "Accounting for Group 
Reconstructions" issued by the Hong Kong Society of Accountants.

2.  Earnings per share

The calculation of the basic earnings per share is based on the net profit 
for the Period of HK$8,788,000 (2002: HK$8,590,000) and 800,000,000 (2002: 
680,000,000) ordinary shares in issue during the Period on the assumption 
that the Group Reorganisation and capitalisation issue had been completed 
on 1 January 2002.
No diluted earnings per share is presented as the Company does not have 
any dilutive potential ordinary shares.