SEAPOWER RES I<0269> - Results Announcement (Summary)
Seapower Resources International Limited announced on 26/7/2001:
(stock code: 269)
The auditors' report on the financial statements which contain the
following result is qualified by the Company's auditors.
For more details, please refer to the press announcement issued by the
Company on 27/7/2001.
Year end date: 31/3/2001
Currency: HKD (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/4/2000 from 1/4/1999
to 31/3/2001 to 31/3/2000
('000) ('000)
Turnover : 201,110 300,259
Profit/(Loss) from Operations : (116,735) (31,096)
Finance cost : (121,902) (124,879)
Share of Profit/(Loss) of Associates : 362 (3,328)
Share of Profit/(Loss) of
Jointly Controlled Entities : - (1,366)
Profit/(Loss) after Tax & MI : (239,054) (161,474)
% Change over Last Period : N/A
EPS/(LPS)-Basic : (15.45 cents) (11.82 cents)
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (239,054) (161,474)
Final Dividend per Share : NIL NIL
(Specify if with other options) : N/A N/A
B/C Dates for Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : 4/9/2001 to 6/9/2001 bdi.
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remarks:
2001 2000
HK$ '000 HK$ '000
1 Turnover
- Continuing operations 193,974 222,532
- Discontinued operations 7,136 77,727
------------------------
201,110 300,259
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2 Loss from operations
- Continuing operations (116,683) (76,903)
- Discontinued operations (52) 45,807
------------------------
(116,735) (31,096)
========================
3 Operating loss including the following major revenue / (expenses) items:
Continuing Operations
Net realized gain on other investments 51,088 62,694
Unrealized gain on other investment 11,197 5,411
(Deficit) Surplus arising on revaluation of
investment properties (28,990) 17,357
Surplus arising on revaluation of other land
and buildings - 2,642
Deficit arising on revaluation of cold storage
warehouses and other land and buildings (30,933) -
Write down of investment in convertible notes
to net realized value and provision for
accrued interest - (4,487)
Amortization of goodwill - (14,992)
Write off of goodwill (85) (30,134)
Provision for jointly controlled entities - (7,500)
Provision for associates - (69,904)
Provision for bad and doubtful debts (59,260) (16,572)
Discontinued Operations
Write back of bad and doubtful debt - 4,855
Provision for bad and doubtful debts - (1,696)
========================
4 Due to the adoption of the new HKSSAP1 (revised), certain last year
comparative figures have been reclassified to conform with current year
presentaion.
For more details, please refer to the press announcement today.
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