NEW WORLD TMT<00301> - Results Announcement
New World TMT Limited announced on 18/03/2004:
(stock code: 00301 )
Year end date: 30/06/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/07/2003 from 01/07/2002
to 31/12/2003 to 31/12/2002
Note ('000 ) ('000 )
Turnover : 183,153 296,145
Profit/(Loss) from Operations : (114,084) (139,399)
Finance cost : (38,713) (381,153)
Share of Profit/(Loss) of
Associates : (106,540) 105,383
Share of Profit/(Loss) of
Jointly Controlled Entities : (2,750) 430,142
Profit/(Loss) after Tax & MI : (270,190) (102,402)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.28) (0.11)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (270,190) (102,402)
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. Analysis of turnover and loss from operations
Turnover (Loss)/profit from
operations
Six months Six months Six months Six months
ended ended ended ended
31.12.2003 31.12.2002 31.12.2003 31.12.2002
HK$'000 HK$'000 HK$'000 HK$'000
Continuing operations
183,153 25 (114,084) (205,082)
Discontinued operations (Note)
- 296,120 - 65,683
------- ------- --------- ---------
183,153 296,145 (114,084) (139,399)
======= ======= ========= =========
Note: The Group focused in telecommunications, media and technology
segment after January 2003. Previously, the Group operated in four other
main business segments including energy and water treatment, toll roads,
toll bridges and cargo handling ("discontinued operations").
2. Details of items before taxation which are of exceptional nature:
Six months Six months
ended ended
31.12.2003 31.12.2002
HK$'000 HK$'000
Continuing operations
Gain on disposal of unlisted investment - 118,541
Gain on disposal of subsidiaries - 15,514
Provision for deposits for proposed investments
(15,146) -
Write-down of inventories to net realizable value
(41,481) -
Impairment losses on other investments - (179,997)
Loss on disposal of non-trading securities listed outside Hong Kong
- (41,749)
Provision for payments on account of proposed joint ventures
- (18,677)
========== ============
Discontinued operations
Impairment losses on fixed assets - (35,000)
========== ============
3. Loss per share
The calculation of loss per share is based on the loss for the period of
HK$270,190,000 (six months ended 31.12.2002: HK$102,402,000) and the
weighted average of 952,180,007 (six months ended 31.12.2002: 952,180,007)
shares in issue during the period.
The diluted loss per share for the period is not presented as the Company
has no dilutive potential shares at period end (six months ended
31.12.2002: n/a).
4. Comparative figures
a. With effect from 1 July 2003, the Group has adopted the Hong Kong
Statement of Standard Accounting Practice 12 "Income Taxes" to account for
deferred tax. This adoption represents a change in accounting policy,
which has been applied retrospectively and the comparative figures have
been restated accordingly. As a result, loss for the six months ended 31
December 2002 has been increased from HK$98,165,000 to HK$102,402,000.
b. Interest income of HK$13,221,000 for the period ended 31 December
2002 has been reclassified from turnover to other operating income to
conform with current period's presentation.
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