SOUTH EAST GP<00726> - Results Announcement

South East Group Limited announced on 21/07/2003:
(stock code: 00726 )
Year end date: 31/03/2003
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/04/2002    from 01/04/2001
                                     to 31/03/2003      to 31/03/2002 
                               Note  ('000      )       ('000      )
Turnover                           : 60,252             37,055            
Profit/(Loss) from Operations      : (32,487)           (16,807)          
Finance cost                       : (539)              (997)             
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : (663)              (604)             
Profit/(Loss) after Tax & MI       : (33,700)           (18,408)          
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.102)            (0.056)           
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (33,700)           (18,408)          
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.      TAXATION

Taxation in the income statement represents the Hong Kong profits tax 
underprovided for prior years. No provision for Hong Kong and overseas 
profits tax has been made in the financial statements for the current year 
as the Group has no assessable profits for the year. The Group did not 
have taxation payable as at 31 March 2003.

2.      DIVIDENDS

        The Board of Directors does not recommend the payment of any 
dividends for the year.

3.      LOSS PER SHARE

        The calculation of loss per share is based on the consolidated 
loss attributable to shareholders for the year of HK$33,700,000 (2002: 
loss of HK$18,408,000) and on 330,571,880 (2002: 330,571,880) shares in 
issue during the year. The Company has no potential dilutive ordinary 
shares that were outstanding during the two years ended 31 March 2003 and 
31 March 2002.