KWOON CHUNG BUS<00306> - Results Announcement

Kwoon Chung Bus Holdings Limited announced on 20/12/2002:
(stock code: 00306 )
Year end date: 31/3/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Audit Committee

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 1/4/2002      from 1/4/2001  
                                     to 30/9/2002       to 30/9/2001  
                               Note  ('000      )       ('000      )
Turnover                           : 498,812            468,524           
Profit/(Loss) from Operations      : 23,766             (8,733)           
Finance cost                       : (4,742)            (5,956)           
Share of Profit/(Loss) of 
  Associates                       : N/A                (348)             
Share of Profit/(Loss) of
  Jointly Controlled Entities      : (206)              2,659             
Profit/(Loss) after Tax & MI       : 8,126              (13,203)          
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : 0.0206             (0.0335)          
         -Diluted (in dollars)     : 0.0206             (0.0335)          
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 8,126              (13,203)          
Interim Dividend                   : 1 cent             0.5 cent          
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Interim Dividend                 : 15/1/2003          to 17/01/2003bdi.
Payable Date                       : 24/1/2003 
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 Earnings (Loss) per share

The calculation of basic earnings/(loss) per share is based on the net 
profit from ordinary activities attributable to shareholders for the 
period of HK$8,126,000 (2001: a loss of HK$13,203,000) and on the weighted 
average of 393,906,000 (2001: 393,906,000) ordinary shares in issue during 
the period. 

The calculations of basic and diluted earnings/(loss) per share are based 
on: 

                                        For the six months ended
                                        30 September
                                        2002            2001
                                        (Unaudited) (Unaudited)
                                        HK$'000         HK$'000
Earnings / (Loss):              
Net profit / (loss) attributable
to shareholders, for the purpose of 
basic and diluted earnings / (loss) per 
share calculation                       8,126           (13,203)
                                        Number of shares
                                        For the six months
                                        ended 30 September
                                        2002            2001
                                        (Unaudited)     (Unaudited)
Shares:         
Weighted average number of ordinary 
shares in issue during the period for 
the purpose of basic earnings / (loss)
per share calculation                   393,906,000     393,906,000
Weighted average number of ordinary
shares assumed issued at no
consideration on deemed exercise
of all share options outstanding 
during the period                               -       -   
                                        -------------   -------------
Weighted average number of ordinary
shares for the purpose of diluted
earnings / (loss) per share 
calculation                             393,906,000     393,906,000
                                        ============    ============

2 Due to the adoption of revised/new SSAPs during the current period, the 
presentation of the profit and loss account, the balance sheets and 
certain supporting notes has been revised to comply with the new 
requirements.  Accordingly, certain comparative amounts have been 
reclassified to conform with the current period's presentation.