SUN INNOVATION<00547> - Results Announcement (Summary)
Sun Innovation Holdings Limited announced on 23/4/2004:
(stock code: 00547 )
Year end date: 31/12/2003
Currency: HKD
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/1/2003 from 1/1/2002
to 31/12/2003 to 31/12/2002
Note ('000 ) ('000 )
Turnover : 44,153 66,652
Profit/(Loss) from Operations : (46,957) (3,514)
Finance cost : (883) (371)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (46,727) (3,958)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.011) (0.001)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (46,727) (3,958)
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 Annual
General Meeting : 2/6/2004 to 8/6/2004 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1) Turnover
2003 2002
HK$'000 HK$'000
Turnover
Continuing operations
- Rental income 3,252 4,788
- Telecommunication services income
438 -
- Wireless value added service
1,215 -
Discontinuing operations
- Fire prevention and suppression
39,248 48,543
- Building services contracting - 13,321
------------------------
44,153 66,652
========================
2) LOSS FROM OPERATING ACTIVITIES
2003 2002
HK$'000 HK$'000
Continuing Operations
- Property investment (4,849) (2,781)
- Telecommunication (2,658) -
- Wireless valued added services
(763) -
--------------------------
(8,270) (2,781)
Discontinuing Operations
- Fire protection and suppression
(11,487) (11,619)
- Building services contracting - (4,904)
--------------------------
(11,487) (16,523)
Unallocated revenues 980 307
Unallocated costs (13,871) (13,872)
(Loss) gain on disposal of subsidiaries engaged in discontinuing
operations (14,309) 29,355
--------------------------
(46,957) (3,514)
==========================
3) LOSS PER SHARE
The calculation of basic loss per ordinary share is based on the Group's
loss attributable to the shareholders of HK$46,727,000 (2002:
HK$3,958,000) and the weighted average number of 4,342,438,973 (2002:
4,182,438,973) shares in issue during the year.
The exercise of share options would have an anti-dilutive effect on the
basic loss per share and accordingly no information in respect of the
diluted loss per share for 2003 and 2002 is disclosed.
4) DIVIDEND
No dividend have been paid or declared by the Company during the year
(2002: Nil).
5) COMPARATIVE AMOUNTS
The Group has set up a new segment - Telecommunication and established a
segment - Media and Content through the acquisition during 2003 while the
Group discontinued the fire protection and suppression business in Hong
Kong and People's Republic of China by disposal of certain of the Group's
subsidiaries in 2003 and 2004 respectively.
Certain figures have been reclassified as discontinuing operations to
conform to the current year's presentation.
For more details, please refer to the press announcement today.
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