CENTRAL CHINA<00351> - Results Announcement
Central China Enterprises Limited announced on 28/4/2003:
(stock code: 00351 )
Year end date: 31/12/2002
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/1/2002 from 1/1/2001
to 31/12/2002 to 31/12/2001
Note ('000 ) ('000 )
Turnover : 1,606 126,817
Profit/(Loss) from Operations : (67,861) (49,439)
Finance cost : (1,912) (8,637)
Share of Profit/(Loss) of
Associates : (13,593) (21,781)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A (1,085)
Profit/(Loss) after Tax & MI : (147,980) (76,302)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.0556) (0.0286)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (147,980) (76,302)
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. Turnover from continuing operations and discontinuing operations
Turnover represents the amount received and receivable for goods sold to
outside customers, less returns and allowance, service income and
guaranteed return for the year, and is analysed as follows:
2002 2001
HK$'000 HK$'000
Continuing operations:
Software design and development 1,250 -
Internet software services 356 285
Return from a power plant in the PRC (note below)
- 374
Return from an investment in a motor spare parts business in the
PRC (note below) - -
---------- --------
1,606 659
Discontinuing operations:
Manufacture and sale of coke, coal gas, coal tar and benzene
- 99,919
Automobile repair and maintenance services - 26,239
--------- ---------
1,606 126,817
Note: No return has been recognised in the current year as the
recoverability of the guaranteed return for the current year is considered
by the directors to be uncertain.
2. Profit/(loss) from continuing operations and discontinuing
operations
2002 2001
HK$'000 HK$'000
Continuing operations:
Software design and development (16,377) -
Internet software services (64) (3,241)
Return from a power plant in the PRC (504) (130)
Return from an investment in a motor spare parts business in the PRC
- (10)
Unallocated corporate expenses (50,916) (58,420)
--------- ---------
(67,861) (61,801)
Discontinuing operations:
Manufacture and sale of coke, coal gas, coal tar and benzene
- 10,062
Automobile repair and maintenance services - 2,300
---------- ----------
(67,861) (49,439)
========= =========
3. Loss per share
The calculation of loss per share is based on net loss for the
year of approximately HK$147,980,000 (2001: HK$76,302,000) and
2,663,370,147 shares (2001: 2,663,370,147 shares) in issue during the
year.
No diluted loss per share has been calculated as the exercise of
the share options would result in a decrease in loss per share for both
years.
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