401 HOLDINGS<00401> - Results Announcement (Summary)
401 Holdings Limited announced on 22/12/2003:
(stock code: 00401 )
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: Qualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/4/2002 from 1/4/2001
to 31/3/2003 to 31/3/2002
Note ('000 ) ('000 )
(Restated)
Turnover : 6,933 22,844
Profit/(Loss) from Operations : (43,264) (92,465)
Finance cost : (14,214) (3,228)
Share of Profit/(Loss) of
Associates : 63 53
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (57,448) (101,153)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.1677) (0.3481)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (57,448) (101,153)
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. OPERATING LOSS
The operating loss is stated after crediting and charging the following
and other charges:-
2003 2002
HK$'000 HK$'000
Crediting
Interest income - 945
Gross rental income from properties 2,705 3,114
Less : Outgoings 810 1,803
Net rental income from properties 1,895 1,311
Charging
Auditors' remuneration
- current year 276 361
- overprovision in prior year (5) -
Net exchange losses 29 26
Operating lease rentals in respect of land and buildings
1,422 4,008
Operating lease rentals in respect of plant and machinery
35 305
Staff costs excluding directors' emoluments
- salaries, bonus, allowances and benefits in kind5,297 15,043
- payment in lieu of notice and severance payment848 458
- provision for annual leave 37 (211)
- provision for long service payment 813 -
- retirement benefits scheme contributions 162 441
==== ====
2. OTHER CHARGES
2003 2002
HK$'000 HK$'000
Compensation paid (180) -
Gain on disposal of subsidiaries - 6,779
Impairment loss on fixed assets - (125)
Loss on disposal and write off of fixed assets (1,672) (1,951)
Provision for diminution in the value on investment securities
(250) (21,287)
Provision for amounts due from associates (489) -
Provision for bad and doubtful debts (1,515) (11,940)
Provision for diminution in value of inventories- (1,898)
Provision for diminution in value of properties for sale
(2,939) (3,449)
Unrealised losses for other investment (13,200) -
Waiver of debts - 201
Write off of properties for sale (630) -
----- -----
(20,875) (33,670)
======= ========
3. LOSS PER SHARE
The calculation of basic loss per share is based on the net loss
attributable to shareholders for the year ended 31 March 2003 of
HK$57,448,000 (2002: HK$101,153,000, restated for the effect of adopting
SSAP 34), and the weighted average number of 342,598,798 ordinary shares
(2002: 290,564,541 restated by share consolidation of fifty shares into
one share) in issue during the year.
Diluted loss per share for the year ended 31 March 2002 and 2003 has not
been presented as the effect of any dilution is anti-dilutive.
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