401 HOLDINGS<00401> - Results Announcement (Summary)
401 Holdings Limited announced on 29/12/2003:
(stock code: 00401 )
Year end date: 31/3/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 1/4/2003 from 1/4/2002
to 30/9/2003 to 30/9/2002
Note ('000 ) ('000 )
(Restated)
Turnover : 1,863 3,494
Profit/(Loss) from Operations : (5,744) (11,527)
Finance cost : (1,741) (1,258)
Share of Profit/(Loss) of
Associates : (32) (86)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (7,517) (12,898)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0196) (0.0407)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (7,517) (12,898)
Interim Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Interim 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) Loss from operations
Loss from operations for the period has been arrived at after charging /
(crediting) the following:-
(Unaudited)
Six months ended
30 September 2003 30 September 2002
HK$'000 HK$'000
Depreciation of fixed assets 174 461
(Bad debt recovery)/Provision of bad debt
(78) 469
===== =====
(2) Loss per share
The calculation of basic loss per share is based on the following data:
(Unaudited)
Six months ended
30 September 2003 30 September 2002
HK$'000 HK$'000
(As restated)
Loss
Net loss for the period 7,517 12,898
Dividend for preference shares
- 319
-------- -------
Loss for the purpose of basic loss per share
7,517 13,217
====== ======
Number of shares (note)
Weighted average number of shares for the purpose of basic loss per share
383,339,768 324,836,489
=========== ===========
Loss per share
Current Period/prior period as previously reported
1.96 cents 0.08 cents
========== ===========
As retrospectively restated
1.96 cents 4.07 cents
========== ===========
Diluted loss per share for the period has not been presented as the effect
of any dilution is anti-dilutive.
Note : For comparative purpose, the weighted average number of shares for
2002 has been adjusted to take into account for the capital reorganization
as referred to in note 25 of the Group's consolidated financial statements
for the year ended 31 March 2003.
(3) Change in comparative figures
Salaries, annual bonuses, paid annual leave, leave passage and the cost to
the Group of non-monetary benefits are accrued in the year in which the
associated services are rendered by employees of the Group. Where payment
or settlement is deferred and the effect would be material, these amounts
are stated at their present values.
Prior to 1 April 2002, it was not the Group's policy to accrue paid annual
leave, leave passage and the cost to the Group of non-monetary benefits.
The adoption of SSAP 34 constitutes a change in accounting policy which
should be applied retrospectively and such employee benefits should be
recognised as a prior year adjustment to opening retained earnings in
accordance with SSAP 2 "Net profit or loss for the period, fundamental
errors and changes in accounting policies". This change has been stated in
the annual report for the year ended 31 March 2003. This has further
resulted in an decrease in the net liabilities of the Group as at 30
September 2002 by HK$10,000 and an decrease in loss attributable to
shareholders for the period ended 30 September 2002 by HK$10,000.
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